Angry Birds Hunting Prey
Rovio, the maker of hit mobile game Angry Birds is looking to buy up other players in the gaming industry following its sharemarket listing last week.
Rovio’s main owner Kaj Hed said the company is looking for new acquisitions after its shares got off to a flying start. Rovio shares were trading up as much as 7 percent from their initial public offering price of 11.50 euros.
Hed cut his stake from 69 percent to 37 percent in the IPO and said Rovio now had more muscle to do deals in a gaming sector he believes is ripe for consolidation. Rovio is now valued at around 950 million euros (A$1.43 million).