Rovio, the Espoo (Finland) based developer of the famous Angry Birds-game, yesterday announced the acquisition of a Finnish animation studio named Kombo. The concrete terms of this deal are undisclosed but it has been announced that Rovio acquired Kombo with a mixture of cash and stock. From now on Kombo is going to focus its production efforts entirely on Rovio properties.
The acquisition of the Helsinki-based studio strengthens Rovio’s animation production capabilities, with the long-term goal of creating a world class powerhouse in animated entertainment. As Rovio has raised $42 million in Series A funding last month, the Finnish media company can easily afford strategic purchases like this one.
Mikael Hed, CEO of Rovio stated: “This acquisition is an important step in the execution of our media strategy. The attitude, creativity and quality of Kombo’s work is simply fantastic, and we look forward to delighting our fans with more Kombo animations.”