Business

Rovio, the developers of Angry Birds, may receive investments which would value the company at a whopping $1.2 billion.

According to reports from Bloomberg, Rovio may receive the strategic investment from a company who is yet to go public with the investment. However, it is know that the company is from the entertainment industry.

In the past, Rovio has turned down similarly lucrative offers from large institutional investors. According to Michael Pachter, managing director of research at Wedbush Securities, potential investors include, EA, Zynga, News Corp or even Walt Disney.

The new investment comes after the company received $42 million in March of this year from a host of technology investors.

According to Silicon Republic, the funding could be used to make an Angry Birds movie and to open up more offices outside of Finland. The investment could also help the company expand out into more optimal markets including China and India.

Rovio makes millions from the downloadable Angry Birds game and has recently expanded it to Xbox and Playstation platforms in the form of downloadable content.

The company also sells Angry Birds merchandise, which ranges from stuffed toys to baby clothes. And to think, it all started with a mobile phone game.