Angry Birds maker Rovio spins off education business

[January 28, 2016]  HELSINKI (Reuters) - Rovio Entertainment Ltd, the maker of hit mobile phone game Angry Birds, said on Thursday it would spin off its education business, including a preschool concept and digital learning tools, as part of its restructuring.

A new company called Fun Academy has licensed the Angry Birds brand and will continue to operate existing Angry Birds Playgrounds in China, Singapore and the United States.

The firm will be led by Sanna Lukander, formerly Rovio's vice president of education. Rovio, a Finnish mobile games maker, has not disclosed financial information for the education business.

Rovio forecast falling earnings in 2015 amid a decline at its licensing business, prompting the firm in October to cut 213 jobs. But it has not yet released official figures for last year.

(Reporting by Tuomas Forsell; Editing by Jussi Rosendahl and Katharine Houreld)

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