Insanely raging birds launching themselves into buildings and bringing them crashing down on the bad guys is more Hitchcockian than the stuff of gaming legend. But an obscure Finnish startup created one in 2009 with its Angry Birds franchise.
Building on its stupendous success since, the franchise will be looking to expand its further offerings with a IPO in the near future, according to a report first filed in online news website The Information.
Technology news site The Information, citing unnamed sources, had reported late on Friday that mobile game and animation studio Rovio may be considering an IPO, in case a possible acquisition bid from Chinese Web giant Tencent for $3 billion bid does not materialise.
However, Reuters reported on Saturday that Rovio has declined comment that China's Tencent Holdings is looking to acquire it.
"We and our shareholders regularly assess different alternatives to further develop Rovio," Rovio told Reuters in an emailed statement on Friday when asked about The Information report.
"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," the company said.
The unlikely platoon of foul-tempered fowls and their all-consuming wrath was celebrated, in what Rovio has claimed, is the most downloaded paid app of all time. The game became a phenomenon riding on some sharp gameplay and emotional connections forged on mesmerising user appeal.
Rovio has five game studios, including its Match, Slingshot, and Battle studios in Espoo, Finland. It also has a role-playing game studio in Stockholm, Sweden, and a new massively multiplayer online studio in London.
Following years of falling earnings, job cuts and divestments, Rovio returned to profit last year as the release of its Angry Birds movie helped boost game sales. It grew its revenues 34 percent to €190 million ($203 million) in 2016, up 34 percent from $150 million a year earlier.
Earnings before income taxes (EBIT) were €17.5 million ($18.5 million) in 2016, up from a €21 million loss ($22 million) in 2015. The games division had its best year ever, with revenue growing 40 percent from €113 million to €159 million in 2016.
Rovio CEO Kati Levorenta said in February that the gaming vertical and The Angry Birds Movie helped push the company into the black compared to a loss the year before.
