Angry Birds maker seeks to buy rivals

helsinki — Rovio, the maker of hit mobile game “Angry Birds,” will look to buy up other players in the gaming industry following its listing on Friday, its main owner Kaj Hed said.

The Finnish company’s shares got off to a flying start on their stock market debut, trading up as much as 7 per cent from their initial public offering price (IPO) of 11.50 euros.

We have a clear will to be a consolidator, and we are in a very good position to do that Kaj Hed, chairman of Rovio

Hed, who cut his stake from 69 per cent to 37 per cent in the IPO, said Rovio now had more muscle to do deals in a gaming sector he believes is ripe for consolidation.

“We have a clear will to be a consolidator, and we are in a very good position to do that,” he told Reuters at Rovio’s headquarters by the Baltic Sea.

“Many good (gaming industry) players face the question of whether they should go public, or whether they should consolidate. Going public is expensive and requires hard work, so finding a partner could be easier.” — Reuters