Ruby Games is a developer of popular hyper-casual games downloaded over 600 million times by users. Many have heard about the game Hunter Assassin, and it is Ruby Games that is the developer of the sensational hyper-casual stealth. Hunter Assassin finished sixth in the top 10 games of 2020.
This acquisition will consist of several stages. Rovio gets the choir a 20% stake in Ruby Games for $10 million in the first stage. In October 2022, Rovio will acquire 50% of the company for $80 million. It will be based on Ruby’s results over the past 12 months. Then, the second stage of the purchase will be 60% in cash and 40% in stock. Rovio will purchase the remaining 30% in 5 years, with 5 equal purchases of at least 50% of the shares.
Rovio has a strong strategy, and some of that growth will come from mergers and acquisitions like this one. The purchase of Ruby Games marks Rovio’s entry into the fast-growing hyper-casual gaming market. It brings together a talented team with an extensive network of developers on the Rovio team.
Ruby Games will also increase Rovio’s target audience and daily active users. Ruby Games will continue to be operated by its founder and CEO, Mert Jan Kurum. Also, the company’s headquarters will be located in Izmir, Turkey.
Becoming part of a company that has created one of the most beloved mobile gaming brands in the world, Angry Birds, is exciting, and we are very proud of joining Rovio. This acquisition opens up a new chapter for us, and Rovio’s long history and expertise in free-to-play games will help us to reach higher levels. We look forward to working together with Rovio’s other studios, and also to share our knowledge and expertise.Mert Jan Kurum, CEO of Ruby Games