Rovio sells off animation studio and book publishing business

Angry Birds creator Rovio has sold off its Vancouver-based television animation studio and book publishing businesses to Kaiken Entertainment. Rovio also sold a few non-Angry Birds properties to the startup. 

The Finnish mobile outfit didn't reveal how much cash it netted from the deal, simply explaining that the transaction is part of the "ongoing reorganization" of its animation division.

Kaiken was founded by former Rovio CEO Mikael Hed, and is an entertainment company specializing in storytelling through film, apps, video streaming, and publishing.

The two companies have worked together before and will continue to partner up on certain projects, including some that make use of the Angry Birds license. 

"We are happy to announce this transaction and look forward to a continued partnership with Kaiken in animation series productions and books publishing," said Rovio CEO, Kati Levoranta.

Although the sale might make it sound like Rovio is in a spot of trouble, it's worth remembering that the company recently opened a new London studio to develop more original properties. 

On top of that, Rovio's games division just had its best year ever, pulling in record-breaking revenues of $167.5 million.