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Angry Birds maker Rovio Entertainment has agreed to obtain hypercasual game studio Ruby Games, a Turkish studio that is 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 do not need a big focus span, and it is a different major endorsement for Turkey’s mobile gaming ecosystem. Rovio is also joining in on an unprecedented acquisition spree across the game sector that saw $50.2 billion invested in games in the 1st half of 2021.
The buy price tag will be executed in stages as Ruby Games hits particular milestones. Rovio will get 20% of Ruby’s shares for $10 million in the course of the second half of 2021. In October 2022, it will also obtain 50% of Ruby’s shares for a price tag that depends on Ruby’s monetary efficiency in the preceding 12 months. That price tag will not exceed $80 million. That will be paid in 60% money and 40% Rovio shares. The remaining 30% of Ruby’s shares will be bought in 5 equal stages more than the next 5 years with at least 50% money, with the price tag dependent on Ruby’s monetary efficiency.
The move into hypercasual echoes moves by major mobile game firms 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 business mentioned.
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Ruby Games launched 4 hypercasual games in 2020 and 3 new games so far in 2021. The lately launched Streamer Life was the most downloaded app/game in the U.S. in the course of the finish of July.
Ruby Games is creating the sequel to the very productive Hunter Assassin, which it expects to launch at the finish of 2021 or starting of 2022. The sequel to Hunter Assassin will incorporate a deeper meta-game and in-app purchases that create towards larger lengthy-term retention.
In the 1st six months of 2021, Ruby Games generated $7.8 million income, adjusted earnings just 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 staff.
Since 2018, Ruby Games has launched 13 games. Eight of these have reached the U.S. prime 10 every day download chart in iOS games, and 3 hit the No. 1 position, the business mentioned. The combined downloads of Ruby Games has exceeded 600 million. Rovio’s Angry Birds games have been downloaded 4.5 billion occasions to date, the business mentioned.