Rovio's story is one of struggle, with the company known for the iconic Angry Birds franchise barely making money as of 2013.
The Finnish company, which celebrated the two billionth download of Angry Birds at the beginning of 2014, only made 10 million euros in profits at the end of the same year.
After numerous layoffs due to poor sales of Angry Birds merchandise and merchandise, Rovio began making numerous management changes. Unfortunately, this didn't help much and the Finnish company was forced to close several of its studios and continue to lay off several of its developers.
Rovio briefly returned to profitability thanks to the success of the Angry Birds Movie released in March 2017, but that didn't help either.
Rovio became a publicly traded company in October 2017 and the company was valued at around $1 billion. After acquiring two other studios, PlayRaven and Darkfire Games, in 2018 and 2020 respectively, Rovio received acquisition offers from several companies.
SEGA announced this week that it had completed the acquisition of Rovio for 706 million euros.
Now that Rovio is part of SEGA, it will be interesting to see if the Japanese developer will allow the studio to continue making Angry Birds games or help create SEGA franchises.