Rovio: We're In Acquisition Mode




Rovio's Mighty Eagle, Peter Vesterbacka stated this morning in the Summer of Startups press event that "Rovio is very much in acquisition mode at the moment". Last week we wrote about Rovio acquiring a Helsinki based animation studio Kombo for an undisclosed amount. Vesterbacka stated that the acquisition was not a huge one, but they still added 20 people to Rovio's headcount making the company now 120 employees strong.

Peter Vesterbacka stated also that the company will be acquiring many more companies in the future. So the recently raised war chest will be very much used for acquisitions. On what types of companies they will be acquiring, is not yet known. However, the company is very profitable already and is looking to improve and extend its business.

One proof of profitability are the latest figures Vesterbacka revealed in the Summer of Startups kick-off presentation. The latest figure regarding stuffed toys and other merchandise is that Rovio has now sold more than 3 million items of its stuffed toys and other goods.

In addition, Vesterbacka revealed that their in-app Mighty Eagle (a way to by-pass levels you're stuck on for 0,79 euro or $0,99) has been purchased by 40% of their new users. In March the company broke through 100 million downloads and now they're at 200 million. These figures includes all the different platforms, Chrome, iOS, Android, Symbian, etc.

What does a company this successful have in store for 2012? Vesterbacka stated that the company wants to be the most popular entertainment brand in China in 2012. It's crazy, but so was the statement that they want to reach 100 million downloads in one year. In fact, the company reached 200 million.

Why China? The Mighty Eagle was in Beijing, Shanghai and a few other places last week and he noticed that there were goods on sale from basically three manufacturers, Disney, Hello Kitty and Rovio/Angry Birds. While many may not have been official, it's doing a great job promoting the game.

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