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Sunday
Aug142011

'Angry Birds' Maker May Be Valued at $1.2 Billion After Funding

Jupiterimages/Photos.com/Thinkstock(SAN FRANCISCO) -- All work and no play?

That’s not the case for Finland-based game maker and inventor of the popular mobile-phone game “Angry Birds” that may receive funding to escalate the company’s value to $1.2 billion.

Bloomberg News reports that Rovio Entertainment Oy may use the new funds to further expand the success of “Angry Birds” by developing the game into a movie. Funds may also be used to expand the company’s offices outside of Finland.

Funding will most likely come from big-name game developers Electronic Arts Inc. (ERTS) and Zynga Inc., as well as from media giants News Corp. and Walt Disney Co., according to Michael Pachter, managing director of research at Wedbush Securities Inc.

Rovio received $42 million in funding from investors in March that included Skype Technologies as well as Accel Partners.

Google Inc. offers “Angry Birds” on its new social-networking site.

Copyright 2011 ABC News Radio







ABC News Radio