It’s been six years since we first told you about the plans that Rovio, the maker of Angry Birds, had to go public, but now it seems as though action is on the horizon. A report from The Information in June indicated that the Finnish game maker and animation studio “could list on the stock exchange in the future.” And now, that rumor has proven true, as reports note that Rovio is set to launch an IPO on the Helsinki Nasdaq in two weeks, but the end of September.
Although The Information initially reported that Tencent could be considering a bid of up to $3 billion for Rovio, that doesn’t look to be the current strategy. Of course, it would’ve made sense — over the course of the last year, Tencent has made a number of acquisitions totaling a cool $19 billion, and its new holdings include companies like Supercell Oy, yet another Finnish game creator which created the Clash of Clans franchise.
And while Rovio is a lot less prolific, Angry Birds has done remarkably well. After all, the game not only has worldwide appeal, but has also inspired a whole line of paraphernalia, and even a movie. As such, the IPO looks to value the company at around $1 billion.
While that’s half the original $2 billion price the company was hoping for, Rovio has fallen upon tougher times lately. Last year was the first time in quite some time that the company made a profit, thanks to the success of the Angry Birds movie, which seemed in turn to improve game sales. But prior to that, earnings at Rovio had taken a tumble, jobs were cut, and divestments were made.
Rovio was initially coy about the potential for an IPO. “We and our shareholders regularly assess different alternatives to further develop Rovio,” the company said in an emailed statement back in June to Reuters. “A stock exchange listing at some point in the future could be possible in order to support the continued strong growth of Rovio and its strategic targets. However, Rovio and its owners have not made any decisions regarding a possible IPO.”
That tune has clearly changed, however, so if you’re not risk adverse these days, there may soon be a new startup for you to invest in.
Update: Rovio is slated to launch its IPO in the next two weeks.
