Sega Sammy in €706m deal to buy Angry Birds maker Rovio

Shares for Finland's Rovio Entertainment soared by more than 18% following the announcement

The Sega Sammy announcement said Rovio's board of directors supported the tender offer, making the acquisition a friendly takeover.

Japan's Sega Sammy Holdings Inc said on Monday it planned to acquire Finland's Rovio Entertainment Oyj for €706m to bolster its mobile gaming business, sending Rovio shares soaring.

Sega Sammy will offer €9.25 for each share of the company behind the mobile game Angry Birds, a 19% premium over Friday's closing price, in its tender offer bid set to be launched around May 8th.