• Israel-based mobile games developer Playtika Holding Corp has sent a proposal to buy Finnish video game developer Rovio Entertainment Corporation.
• The price of the acquisition deal would be as much as 683 million euros ($737.50 million), or 9.05 euros per share, paid in cash.
• This is the second acquisition offer from Playtika to Rovio.
Israel-based mobile games developer Playtika Holding Corp has sent a proposal to buy Finnish video game developer Rovio Entertainment Corporation in a deal that could be worth up to 683 million euros ($737.50 million). The proposed acquisition would offer 9.05 euros per share, paid in cash, which is approximately 60% higher than Rovio’s closing price on January 19.
This is the second offer made by Playtika to Rovio. On November 16, 2022, Rovio submitted an 8.50 euros per share proposal to the Rovio Board of Directors. The new offer values each share of Rovio at 9.05 euros, or about 60% higher than the company’s closing price on January 19.
Playtika CEO Robert Antokol commented on the proposal, stating “We firmly believe the combination of Rovio’s unique IP, world-class talent, and strong consumer-facing mobile gaming platform with Playtika’s global reach and resources will create value for both sets of shareholders and further accelerate the growth of our combined business”.
The proposed acquisition highlights Playtika’s interest in the Angry Birds franchise, which is Rovio’s most famous product, and is seen as a strategic move to bolster Playtika’s mobile gaming portfolio.
No agreements have been made between the companies, and there is no assurance that any transaction will materialize or eventually be completed. The Rovio Board of Directors will consider the proposal and evaluate its merits as part of the company’s ongoing evaluation of strategic alternatives.