Japanese gaming giant Sega has announced the acquisition of Rovio, the developer behind the popular mobile game Angry Birds, for $776 million. The move comes after months of negotiations, with reports suggesting that Sega had allocated a budget of around $1 billion for the purchase.

Angry Birds, which was the first mobile game to surpass one billion downloads, has since spawned a TV series and two feature-length films. The game continues to be one of the most well-known mobile games of all time, with over 200 million monthly players at its peak.

In a statement, Sega said it aims to leverage Rovio’s expertise in live-service mobile game operations to expand its own portfolio of games in the global mobile gaming market.

The acquisition is expected to be completed by the end of September, the end of the current fiscal year. It’s worth noting that Sega was not the only company interested in acquiring Rovio; the studio had previously engaged in talks with Israeli gaming company Playtika but failed to reach a deal.

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