VENTURE CAPITAL POST

Mobile-games company Rovio is cutting its global workforce by 39% to focus on a few products that make more money. This is the second time the Angry Birds maker has announced job cuts in less than a year.

After a decline in earnings last year, Angry Birds creator Rovio Entertainment plans to rebound and expand in Asia by developing its game to fit local consumers' preferences.

In a bid to revive its ailing licensing business, Finnish video game developer Rovio, the maker of hugely popular game "Angry Birds" - the number one paid mobile app of all time - on Monday said that the company will be partnering with Danish toymaker Lego to develop a line of Angry Birds themed construction toys.

Mobile games maker Rovio reported its operating profit fell 73 percent last year due to a drop in its licensing business, a latest sign its breakthrough Angry Birds brand is losing its appeal.

Finland's Rovio, the maker of the Angry Birds mobile game, said it has hired Pekka Rantala from beverage maker Hartwall to take over as its new chief executive by the beginning of next year.

Institutional, strategic and private investors backed Finland-based gaming startup Next Games with $6 million in its latest funding round. The firm intends to roll out the mobile game version of "The Walking Dead" globally, VentureBeat reported.