In July 2011, the company changed its name to Rovio Entertainment. In March 2011, Rovio raised $42 million in venture capital funding from Accel Partners, Atomico and Felicis Ventures. 1 spot in the Apple App Store paid apps chart after six months, and remained charted for months after. In December 2009, Rovio released Angry Birds, its 52nd game, a puzzle game where a bird is flung at pigs using a slingshot for the iPhone it reached No. In 2009 the board gave Mikael Hed the job of CEO. In January 2005, Relude received its first round of investment from a business angel, and the company changed its name to Rovio Mobile, where "rovio" translates from Finnish as " pyre".
King of the Cabbage World was sold to Sumea, and renamed to Mole War, which became one of the first commercial real-time multiplayer mobile games. A victory with a mobile game called King of the Cabbage World led the trio to set up their own company, Relude. In 2003, three students from the Helsinki University of Technology, Niklas Hed, Jarno Väkeväinen and Kim Dikert, participated in a mobile game development competition at the Assembly demo party sponsored by Nokia and Hewlett-Packard. Japan-based Sega Sammy Holdings intends to purchase Rovio by 6 August 2023 for US$776 million, making the latter company a wholly owned subsidiary of Sega. The company's success has helped to establish Finland as a leading player in the mobile game industry and has helped to create a thriving ecosystem for game development in the country.
The company currently operates studios in Espoo, Stockholm, Copenhagen and Montreal. Founded in 2003 by Helsinki University of Technology students Niklas Hed, Jarno Väkeväinen and Kim Dikert, the company is best known for the Angry Birds franchise. Rovio Entertainment Oyj (formerly Relude Oy and Rovio Mobile Oy and doing business internationally as the Rovio Entertainment Corporation) is a Finnish video game developer based in Espoo.
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