Rovio has sold the TV animation studio to its former director

The Finnish company Rovio has sold an animation studio and a book publishing house to its former CEO Mikael Hed.

The amount of the transaction was not disclosed. Mikael Head founded his own media startup Kaiken Entertainment, specializing in videos, films and applications. His staff included many former Rovio employees.

Kaiken Entertainment will partner with Rovio to produce non-game entertainment content based on the Angry Birds franchise. In addition, Kaiken holds a license to publish books on “Angry Birds”.

The sale of the studio is part of Rovio’s ongoing business restructuring, during which the company was forced to cut 35 jobs. The deal will not affect the work of the gaming division and the production of full-length animated films.

Source: Pocket Gamer