Videogame maker Sega announced this morning that it will acquire Finnish “Angry Bird” maker Rovio for about $773 million to improve its mobile game business.

“Sega aims to accelerate its growth in the global gaming market and increase its corporate value by generating synergies between Sega’s existing businesses and Rovio’s strengths, including its global IPs and live-operated mobile game development capabilities,” a Sega statement explains. “Rovio is [also] aiming to expand its platform outside of mobile gaming, and SEGA will actively look to support this process through its capabilities.”

Under the terms of the deal, Sega will acquire all of Rovio’s outstanding shares and options at approximately $10.12 each in what is described as a “friendly takeover” since Rovio’s board of directors the acquisition. That’s a 19 percent premium over their closing price before the deal was announced. According to Rovio’s most recent annual report, the latest Angry Birds title, “Angry Birds Dream Blast,” earned a record $25.5 million in fiscal 2022. Its top three games last year were “Angry Birds 2,” “Angry Birds Dream Blast” and “Angry Birds Friends.”

The “Angry Bird” game series debuted in 2009, and the games have been downloaded over 5 billion times. The franchise has also expanded into movies and merchandising.

Sega expects the transaction to close in the second half of 2023.