It also underlined that Ruby Games, founded in 2018, has a talented and agile 34-member-team in the hyper-casual mobile game field. The press release said in the first half of 2021 Ruby Games generated revenues of $7.8 million. Mert Can Kurum, the CEO of Ruby Games, stressed that this move opens up a new chapter for the Turkish firm, adding that Rovio's expertise will help the firm reach higher levels.

'Ruby Games has launched several successful games and their hit-ratio is impressive,' he said. 'The remaining 30% of Ruby's outstanding shares will be purchased in five equal tranches over the next five years with a minimum of 50% in cash and rest in cash or shares at a valuation based on Ruby's financial performance,' it added.Īlexandre Pelletier-Normand, Rovio's CEO, said the acquisition is an important step for Rovio's growth strategy for entering the rapidly growing hyper-casual market. Step two will be paid 60% in cash and 50% in Rovio shares. In 2022, Rovio will acquire 50% of Ruby's shares for an amount based on the Turkish firm's financial performance, but not exceeding $80 million. In step one, this year Rovio will buy 20% of the Turkish company's shares for $10 million.

Hyper-casual mobile game developer Ruby is the company behind Hunter Assassin, the sixth-most-downloaded game in the world last year, the Finnish company said in a press release. Finnish-based Rovio – the creator of the well-known Angry Birds game series – has agreed to buy Turkish Ruby Games, Rovio announced Thursday.

Game angry birds