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Rovio Entertainment Oyj engages in the development of mobile games. It operates through the following segments: Games, Brand Licensing, and Other. The Games segment consists of mobile games business, which includes all mobile games developed by the business unit for distribution through mobile application stores, such as Apple and Google, and from which Rovio receives revenue in the form of end consumer in-app purchases and in-app advertising. The Brand Licensing segment comprises of consumer products that offers physical merchandise and location-based entertainment; and book, comics, animated series, and movies for its content licensing sub-unit. The Other segment represents group management, intellectual property protection, and other expenses that are not directly allocated to the business units. The company was founded by Niklas Peter Hed and Petteri Vainikka in 2003 and is headquartered in Espoo, Finland.
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Rovio’s share price surged by 18% on Monday after news of the deal was first published.
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