Angry Birds builder Rovio targets $1bn valuation

Angry Birds characters Bomb, Chuck and RedImage copyright
Reuters

The mobile games developer behind Angry Birds expects to be value about $1bn when it lists on a batch market.

Rovio has set a operation for a share sale that would value a business during between 802m euros and 896m euros ($960m-$1.07bn; £710m-£795m).

The Finnish firm’s boss, Kati Levoranta, pronounced a inventory would assistance a association enhance further.

It is “more than only a gaming company”, she said, with sales from film and merchandising as well.

The Finnish organisation expects to list on a categorical partial of a Helsinki Nasdaq on 3 October.

For a year to 30 June, Rovio reported revenues of 265.8m euros, of that 210.1m euros came from games and 55.7m euros from code licensing.

“The mobile gaming marketplace is approaching to grow quick and Rovio has grown faster than a marketplace in new years,” pronounced Ms Levoranta.

“But Rovio is most some-more than only a gaming company. Angry Birds branded consumer products are already sole in some 120 counties and a initial Angry Birds Movie, expelled in 2016, was an general box-office success.

“The inventory is an critical step in building Rovio into an even stronger games-first party company.”

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