Skip to main content
VentureBeat Homepage
  • Events
  • GamesBeat
  • Data Pipeline
  • GamesBeat Summit 2022
  • Account Settings
  • Log Out
  • Become a Member
  • Sign In
VentureBeat Homepage

GamesBeat

VentureBeat

  • AR/VR
  • Big Data
  • Cloud
  • Commerce
  • DataDecisionMakers
  • Dev
  • Enterprise
  • Entrepreneur
  • Marketing
  • Media
  • Mobile
  • Security
  • Social
  • Transportation

Follow

follow us on Twitter follow us on Facebook follow us on LinkedIn Follow us on RSS

The Machine

  • AI
  • Machine Learning
  • Computer Vision
  • Natural Language Processing
  • Robotic Process Automation

Follow

Follow us on RSS

GamesBeat

  • Games
  • Esports
  • PC Gaming

Follow

follow us on Twitter Follow us on RSS

Events

  • Upcoming
  • Media Partner
  • Webinars

General

  • Newsletters
  • Got a news tip?
  • Advertise
  • Press Releases
  • Guest Posts
  • Contribute to DataDecisionMakers
  • Deals
  • Data Pipeline
  • Jobs
  • VB Lab
  • About
  • Contact
  • Privacy Policy

Join the GamesBeat Community

Free: Join the GamesBeat Community for access to 3 premium posts and unlimited videos per month.

Learn More

Sign up with your business e-mail to continue with ticket purchase

Please wait...

Share

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • VentureBeat Homepage
  • Newsletters
  • Events

Angry Birds maker Rovio will buy hypercasual studio Ruby Games

Dean Takahashi@deantak
August 12, 2021 1:13 PM
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Ruby Games is the creator of Hunter Assassin.
Ruby Games is the creator of Hunter Assassin.
Image Credit: Ruby Games

Did you miss a session from GamesBeat Summit 2022? All sessions are available to stream now. Watch now.


Angry Birds maker Rovio Entertainment has agreed to acquire hypercasual game studio Ruby Games, a Turkish studio that’s the creator of the hit game Hunter Assassin.

The move reflects one of the hot trends in mobile games as players focus on titles that don’t require a huge attention span, and it’s another big endorsement for Turkey’s mobile gaming ecosystem. Rovio is also joining in on an unprecedented acquisition spree across the game industry that saw $50.2 billion invested in games in the first half of 2021.

The purchase price will be executed in stages as Ruby Games hits certain milestones. Rovio will buy 20% of Ruby’s shares for $10 million during the second half of 2021. In October 2022, it will also acquire 50% of Ruby’s shares for a price that depends on Ruby’s financial performance in the previous 12 months. That price will not exceed $80 million. That will be paid in 60% cash and 40% Rovio shares. The remaining 30% of Ruby’s shares will be purchased in five equal stages over the next five years with at least 50% cash, with the price dependent on Ruby’s financial performance.

The move into hypercasual echoes moves by big mobile game companies such as Zynga, which acquired Turkey’s Rollic Games for $168 million. Ruby Games’ Hunter Assassin was the sixth most-downloaded game in the world in 2020, the company said.

Event

MetaBeat 2022

MetaBeat will bring together metaverse thought leaders to give guidance on how metaverse technology will transform the way all industries communicate and do business on October 3-4 in San Francisco, CA.

Learn More
Angry Birds AR: Isle of Pigs.

Above: Angry Birds lives on in AR.

Image Credit: Resolution Games

Ruby Games launched four hypercasual games in 2020 and three new games so far in 2021. The recently launched Streamer Life was the most downloaded app/game in the U.S. during the end of July.

Ruby Games is developing the sequel to the highly successful Hunter Assassin, which it expects to launch at the end of 2021 or beginning of 2022. The sequel to Hunter Assassin will include a deeper meta-game and in-app purchases that build towards higher long-term retention.

In the first six months of 2021, Ruby Games generated $7.8 million revenue, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $3.5 million. Total assets of Ruby Games as of June 30 was $4.3 million. It has 34 employees.

Since 2018, Ruby Games has launched 13 games. Eight of those have reached the U.S. top 10 daily download chart in iOS games, and three hit the No. 1 position, the company said. The combined downloads of Ruby Games has exceeded 600 million. Rovio’s Angry Birds games have been downloaded 4.5 billion times to date, the company said.

GamesBeat's creed when covering the game industry is "where passion meets business." What does this mean? We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Learn more about membership.

Author
Dean Takahashi
Topics
GamesBeat Mobile

MetaBeat 2022

Join metaverse thought leaders in San Francisco on October 3-4 to learn how metaverse technology will transform the way all industries communicate and do business.

Learn More

GamesBeat Summit On-Demand Library

Head over to our on-demand library to view sessions from the live event and rewatch your favorite sessions from our virtual days.

Watch Now

Search jobs and find your dream job today.

Get Hired
  • GamesBeat
  • Follow us on Facebook
  • Follow us on Twitter
  • Follow us on LinkedIn
  • Follow us on RSS
  • VB Lab
  • Newsletters
  • Events
  • Special Issue
  • Product Comparisons
  • Jobs
  • About
  • Contact
  • Careers
  • Privacy Policy
  • Terms of Service

© 2022 VentureBeat. All rights reserved.

×

We may collect cookies and other personal information from your interaction with our website. For more information on the categories of personal information we collect and the purposes we use them for, please view our Notice at Collection.