Tencent Targets Angry Birds Studio Rovio
Our favorite Chinese technology conglomerate Tencent has another target in its sights. A report by tech industry news source The Information claims the Finnish studio Rovio, best known for their Angry Birds franchise, could be bought out for $3 billion.
The Information sites 'people briefed on the situation' as its sources and claims that this is no done deal. Rovio may instead opt to stay independent and go public by the end of the year.
If the deal does go through, Rovio would help bolster an already dazzling roster of IPs in tencent's stable which includes Riot Games and Supercell.
Despite initially launching in 2009, the Angry Birds franchise is still growing revenues. Angry Birds 2 helped drive Rovio's gaming revenues 40% last year. The Finnish studio has also dabbled in other segments of the entertainment industry including animated movies and merchandising. CEO Kati Levoranta states Angry Birds has a 90% global awareness rate. While that may be somewhat of a stretch, there's no question that the iconic birds and bigs from the franchise are global icons.
"Our brand awareness is 90% globally. In some countries, it's closer to 100%" - Rovio CEO Kati Levoranta (Feb 2017)
Rovio is currently 70% owned by Kaj Hed, the uncle of the company's co-founder Niklas Hed. I hope my future nephew brings me a similar investment opportunity in the future!
Further Reading: The Information Report
