by • Israel-based mobile games developer Playtika Holding Corp has sent a proposal to buy Finnish video game developer Rovio Entertainment Corporation.
• The proposed deal values each share of Rovio at 9.05 euros, or about 60% higher than the company’s closing price on January 19.
• Playtika is interested in acquiring Rovio as the company is best known for the Angry Birds franchise.
Playtika Holding Corp, an Israel-based mobile games developer, has recently sent an acquisition proposal to Finland’s Rovio Entertainment Corporation, the creators of the popular Angry Birds franchise. The proposed deal values each share of Rovio at 9.05 euros, or about 60% higher than the company’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, which was rejected. It is believed that Playtika is very interested in acquiring Rovio, as the company is best known for the Angry Birds franchise.
Robert Antokol, the CEO of Playtika, commented on the proposed deal: “We firmly believe the combination of Rovio’s leading IP and games portfolio with Playtika’s capabilities and experience in mobile gaming, live operations, and marketing will create a strong and exciting global games business.”
The proposed deal, if approved by the Rovio Board of Directors, would be worth as much as 683 million euros ($737.50 million), and would be paid in cash. However, it should be noted that there is no assurance that any transaction will materialize or eventually be completed.
Rovio Entertainment Corporation is a Finnish video game developer that was founded in 2003, and is best known for the creation of the popular Angry Birds franchise. The company has released numerous titles, and its most successful game to date is Angry Birds 2, which was released in 2015 and has been downloaded over 500 million times.
Playtika Holding Corp is a mobile gaming company that was founded in 2010 and is based in Tel Aviv, Israel. The company is a leader in the mobile gaming industry, and has a portfolio of popular titles such as Slotomania and House of Fun.
Both companies have yet to make any announcements on the proposed deal, and it is unclear if the Rovio Board of Directors will approve the offer. Regardless, the proposed acquisition could have a significant impact on the mobile gaming industry.
