Rovios has agreed to pay $5 billion for its biggest acquisition to date, reviving its video streaming service, Vevos, as it expands its mobile games business.
The deal is the latest in a wave of acquisitions that Rovos has made since acquiring Video Games Group, which had been in talks to buy the company.
Vevio will now be run by a board of directors led by co-founder and CEO of Rovis, John Sperling, and will have around 700 employees and about 1,000 videos on its website, according to a person familiar with the matter.
The move is expected to create about 100 jobs and generate $10 million in annual revenue for Rovinos shareholders.
The transaction is expected by regulators to close in 2019.
Roviros was founded in 1999 as a company that launched a video-game streaming service and made games for smartphones.
In the years since, it has expanded to include a variety of entertainment platforms, including television and film.
It has since moved its focus to video gaming, but it has also taken a broader role in online games, publishing games and making apps.
Rovios acquired the Vevoz startup in 2011 for $1.5 billion.
It also acquired a virtual reality headset company called VR Studios, which is still going strong.
The acquisition is the biggest for a U.S. video-gaming company since the deal for the Los Angeles Dodgers in 2015.
The company, which has been around since 1998, is one of the most successful companies in the world.
It recently closed a deal to sell its video game business to Facebook for $2.5 million.
In February, it signed a deal with Amazon to create an online gaming platform called Firebox.
Amazon declined to comment.
Rv, which was launched in 2013, has become a key player in the gaming industry, with more than 400 million users worldwide.
The latest deal will make it one of just two U.K.-based companies with video games in its portfolio, according the person familiar.
The other is a deal for video game maker Psygnosis to buy U.L.G.S., a maker of interactive media that Rv co-founded.
It is unclear whether the new company will use the existing name.
The new company, Rovs, is expected in 2019 to be valued at around $20 billion, according an investor presentation.
The video-streaming company will continue to focus on games and other content for its existing user base and is focused on mobile games, the person said.
The CEO of the company, John Slattery, is already leaving the company to take a job at Google.
He joined Rovianos in 2013 as vice president of product development.
Ravio’s original founder, Peter Thiel, is a partner in Rovies video-games division.
It had $20.3 billion in revenue in 2016.
Rioviros CEO John Sott, the founder of VR Studios and creator of the popular VR games, said in a statement that the acquisition is a great investment for our team.
“It’s the perfect outcome for Roviros,” Sott said.
“The growth of the mobile gaming industry has made it an attractive investment opportunity.
We look forward to working with Rovionos on its growing gaming business and expanding Roviolos’ global reach.”