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Rovio Closing London Studio and Head of Games Resigns

Category: Gaming
Posted: 10:35AM

Rovio is the company behind the Angry Birds series of games and last year it opened a studio in London and then went public in September. Just weeks ago though it issued a profit warning, causing shares to drop 50% and now it has announced the closure of its London studio, so it can concentrate on the studios in Sweden and the company's home Finland. Rovio had employed seven developers at its London location. Rovio's head of games also resigned on Friday, leaving the chief executive in charge.

Following the launch in 2009 of Angry Birds, Rovio saw a great deal of growth but in 2015 it saw significant loss, leading to a third of its staff being cut. In 2016 the Angry Birds movie helped boost sales of the game, but the company still warns its brand licensing revenues could decline this year by 40%.

Source: BBC

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