Rovio Entertainment, the creators of Angry Birds has sold off its animation studio to Kaiken Entertainment. Along with it, the company also sold its book publishing unit and some other “non-Angry Birds properties.”
Going by a statement released yesterday, this was a “part of the ongoing reorganisation of Rovio’s Animation Division,” the same one which worked on ‘The Angry Birds Movie’. The movie roughly made around $350 million while it was created at a budget of $73 million.
Rovio Entertainment recently announced an impressive surge in annual revenues of 2016, the revenues of the movie however would likely be included in 2017’s report.
Ex-Rovio, CEO, Mikael Hed has joined the company recently. Kaiken Entertainment will be based in LA, Helsinki and Vancouver. Hed would be taking up the post of executive chairman of the company and Kaiken Publishing, CEO, Laura Nevanlinna will be head of franchise and portfolio development.
“This team has been integral to building the hugely successful franchise around Angry Birds,” said Hed. “With this amazing team of experts and storytellers we are thrilled to be pursuing the next big hit.”
“We are happy to announce this transaction and look forward to a continued partnership with Kaiken in animation series productions and books publishing,” said Rovio Entertainment, CEO, Kati Levoranta.
Rovio has confirmed that the two companies would collaborate for ‘Angry Birds’ projects.