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Angry Birds

Head of games at Angry Birds firm goes after profit warning

HELSINKI: "Angry birds" maker Rovio said on Friday its head of games was leaving, a week after the Finnish company issued a profit warning that sent its shares plunging 50 percent. “It’s time to pass the hoodie and move on,” Wilhelm Taht said in a statement, without giving reasons for his departure. Rovio said Taht was leaving with immediate effect for personal reasons and Chief Executive Kati Levoranta would assume his position for the time being. Rovio shares, which debuted at 11.50 euros apiece in September, fell…

Angry Birds maker posts loss despite jump in sales

HELSINKI, Finland: Finland's Rovio Entertainment, creator of the popular smartphone game Angry Birds, on Thursday posted a loss for the third quarter despite rising sales, as it increased its investments with a view to boost its winnings in future. Sales reached 70.7 million euros (nearly $84 million) in the third quarter compared to 50 million the previous year, but year-on-year the company lost 800,000 euros. Rovio posted a profit of 3.9 million euros in the third quarter of 2016. The company said this quarter's…

“Angry Birds” maker Rovio plans IPO to boost growth

HELSINKI: The maker of hit mobile phone game “Angry Birds” is planning an initial public offering to raise around 30 million euros ($36 million) and potentially use its shares to make acquisitions. Finland’s Rovio Entertainment Ltd said on Tuesday that existing shareholders, which include the uncle of the company’s co-founder as well as venture capital firms Accel Partners and Atomico, would also sell some shares, though it gave no details. It declined too to put an estimated value on the company, which some traders have…

Angry Birds maker Rovio to open game development studio in London

HELSINKI: Finnish mobile games and animation company Rovio Entertainment is stepping up its hunt for new hit games by opening a studio in London to focus on multiplayer games that would not rely on the company's Angry Birds brand. Privately-held Rovio has struggled in recent years as profits from the Angry Birds franchise dropped, prompting deep job cuts and divestments. But last year Rovio launched an animated Angry Birds 3D Hollywood film that it said did well at the box office and yielded new licensing deals.…