Rovio Entertainment, the maker of the "Angry Birds" mobile games and movie, said on Friday it had acquired Finnish game studio PlayRaven to expand into mobile strategy games.

Rovio, which listed its shares last year, has been hit by tough competition and high dependency on the Angry Birds brand, first launched in 2009. 
It said it would now seek to develop a strategy game that would have nothing to do with the Angry Birds.

Rovio spokesman Mikko Setala said the PlayRaven acquisition brought on board a team that understood how to make strategy games and what attracted customers, skills and knowledge that he said would have taken Rovio years to master on its own.

Playraven, founded by Finnish game industry veterans in 2013, has 25 employees. It has so far been funded by investors including Northzone and London Venture Partners.

The value of the deal was not disclosed. 
 
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Rovio Entertainment, the maker of the "Angry Birds" mobile games and movie, said on Friday it had acquired Finnish game studio PlayRaven to expand into mobile strategy games.

Rovio Entertainment, the maker of the "Angry Birds" mobile games and movie, said on Friday it had acquired Finnish game studio PlayRaven to expand into mobile strategy games. Rovio, which listed its shares last year, has been hit by tough competition and high dependency on the Angry Birds brand, first launched in 2009. It said it would now seek to develop a strategy game that would have nothing to do with the Angry Birds. Rovio spokesman Mikko Setala said the PlayRaven acquisition brought on board a team that understood how to make strategy games and what attracted customers, skills and knowledge that he said would have taken Rovio years to master on its own. Playraven, founded by Finnish game industry veterans in 2013, has 25 employees. It has so far been funded by investors including Northzone and London Venture Partners. The value of the deal was not disclosed.

Angry Birds firm Rovio buys strategy game studio PlayRaven

Finnish mobile games and animation studio Rovio Entertainment said on Tuesday its sales in the first half of the year almost doubled following the success of &quot;The Angry Birds Movie.&quot;

First-half revenue rose to 152.6 million euros ($179.7 million) from 78.5 million a year earlier, while adjusted earnings before interest, taxes, depreciation, and amortisation increased to 41.8 million euros from 11.0 million a year ago.

Following years of falling earnings, job cuts, and restructuring, Rovio returned to profit in 2016 as the 3D Hollywood movie release revived the Angry Birds brand and gave a boost to game sales.

First-half revenue from games increased by 76 per cent to 117.9 million euros. Rovio&#39;s main titles include &quot;Angry Birds 2&quot;, &quot;Angry Birds Friends&quot; and the new multiplayer game &quot;Battle Bay.&quot;

This year&#39;s growth is also due to movie revenues that had not shown in Rovio&#39;s numbers previously.

The company is now planning a sequel to the Angry Birds movie with Columbia Pictures, scheduled for release in 2019.

Citing unnamed sources, Bloomberg reported earlier this week that Rovio was planning a possible initial public offering.

Rovio, which had earlier said a listing could be possible in the future, declined to comment.

Rovio is 70 per cent owned by Kaj Hed, the uncle of company co-founder Niklas Hed. Other investors include venture firms Accel Partners and Atomico.

Following years of falling earnings, job cuts, and restructuring, Rovio returned to profit in 2016 as the 3D Hollywood movie release revived the Angry Birds brand and gave a boost to game sales

Finnish mobile games and animation studio Rovio Entertainment said on Tuesday its sales in the first half of the year almost doubled following the success of "The Angry Birds Movie." First-half revenue rose to 152.6 million euros ($179.7 million) from 78.5 million a year earlier, while adjusted earnings before interest, taxes, depreciation, and amortisation increased to 41.8 million euros from 11.0 million a year ago. Following years of falling earnings, job cuts, and restructuring, Rovio returned to profit in 2016 as the 3D Hollywood movie release revived the Angry Birds brand and gave a boost to game sales. First-half revenue from games increased by 76 per cent to 117.9 million euros. Rovio's main titles include "Angry Birds 2", "Angry Birds Friends" and the new multiplayer game "Battle Bay." This year's growth is also due to movie revenues that had not shown in Rovio's numbers previously. The company is now planning a sequel to the Angry Birds movie with Columbia Pictures, scheduled for release in 2019. Citing unnamed sources, Bloomberg reported earlier this week that Rovio was planning a possible initial public offering. Rovio, which had earlier said a listing could be possible in the future, declined to comment. Rovio is 70 per cent owned by Kaj Hed, the uncle of company co-founder Niklas Hed. Other investors include venture firms Accel Partners and Atomico.

Rovio Entertainment eyes Angry Birds sequel after profits zoom

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Angry Birds firm Rovio buys strategy game studio PlayRaven

Rovio Entertainment eyes Angry Birds sequel after profits zoom