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Angry Birds maker Rovio could conduct IPO
Posted on Friday, 16 June 2017 12:28
Finnish video game developer Rovio, best known for its Angry Birds series, may decide to float on a stock exchange at some point.

Reuters cited an emailed statement from the company, in which it stated that it regularly assesses potential alternatives, noting that a listing is a possibility and could support its ongoing growth.

However, the firm cautioned that no concrete decision on the matter has been made as yet.

Rovio issued the statement in response to a report by technology-focused news website The Information, which said the group was considering an initial public offering.

That article also suggested that Chinese investment holding company Tencent was mulling an approach for Rovio which could be worth as much as USD 3.00 billion.

However, the Espoo-headquartered firm declined to address this aspect of the report and the prospective acquiror was not available to make a statement on the matter.

Rovio was founded in 2003 but became widely known in 2009 with the release of its Angry Birds puzzle game, in which cartoon birds are thrown using a slingshot with the aim of destroying pigs stationed around the playing field.

The title, which was the company’s 52nd to be released, is renowned for its addictiveness and has spawned an entire franchise, with toys, amusement park attractions, and even an animated movie having been released over the years.

In all there have now been 15 incarnations of the game, including movie-focused tie-ins with the Star Wars and Transformers series, as well as spin-offs such as Bad Piggies.

Other game developers to have been targeted during 2017 to date include Double Down Interactive, which has created an online casino title and was acquired by DoubleU Games for USD 825.00 million in early June.

Playtech, InnoGames and Synga are among others to have featured in deals since the beginning of January, according to Zephyr, the M&A database published by Bureau van Dijk.

© Zephus Ltd