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Rovio Seeking Funding At $1.2B Valuation?

Bloomberg has a story on Rovio, the makers of Angry Birds, that they'd be looking for financing at $1.2B valuation. Bloomberg refers to two people familiar with the matter, but does not disclose who they are. What makes this financing talk a little more interesting (not that it would need to be at such valuation) is that Rovio is said to be in talks with a company in the entertainment business to take on a strategic investment. Similar offers have been rejected from large institutional investors Bloomberg's sources said.

It is believed that Rovio might be talking to either Electronic Arts, Zynga, News Corp or Disney, according to Michael Pachte, MD of research at Wedbush Securities, interviewed in the article.

The financing would naturally be used for its internationalisation to China and other growth markets. The company has openly stated that it wants to be one of the top three entertainment brands in China, beside Hello Kitty and Disney.

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