In cash/stock deal, Angry Birds developer Rovio acquires animation studio Kombo

Next Story

No AMOLED Panels For The iPad 3, Unfortunately

Rovio, the Finland-based developer behind the extremely popular Angry Birds franchise, this morning announced on its blog that it has acquired a longtime partner, Finnish animation studio Kombo.

Financial terms of the deal were not disclosed, but we understand there was a mix of cash and Rovio stock involved.

Kombo will henceforth focus their production efforts exclusively on Rovio properties.

In a press statement, the Angry Birds developer says the acquisition of Kombo will strengthen its in-house animation production capabilities.

Rovio can certainly afford such strategic purchases, having recently raised a whopping $42 million in Series A funding from Accel Partners, Atomico Ventures and Felicis Ventures.

(Picture from Flickr user kBoey pictures, used with permission)