Rovio, Maker of Angry Birds, Closes London Studio - Link3 Technologies Ltd
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Rovio, Maker of Angry Birds, Closes London Studio

Apparently, Angry Birds is losing to generate profit in London as a result of which the maker has decided to close down the mobile game over there.

Wilhelm That, Rovio’s head of game also resigned on Friday. Before doing so, he left Kati Levoranta, chief executive in charge of this.

The Finnish games company has warned that its brand licensing revenues could decline 40% this year.

This most likely has given tough competition and costs in higher marketing for the poor outlook.

In 2017, Rovio’s studio in London was opened. In September of the same year with a valuation of £786m that company went public.

But on 22 February, the Finnish games maker issued a profit warning that caused its shares to drop by 50%.

While announced the closure in London, Rovio said that it would like to concentrate on its studio in Finland and Sweden.

7 games developers were hires in London by the company.

Rovio saw rapid growth after it launched Angry Birds in 2009, but it made a significant loss in 2015 and cut a third of its staff.

In 2016, its Angry Birds movie earned $350 million (£254m) in cinemas and helped revive sales of the game.

Though a sequel is expected in 2019.

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