• Playtika Holding Corp. has sent a proposal to buy Finnish video game developer Rovio Entertainment Corporation.
• The proposed acquisition deal would be as much as 683 million euros, or 9.05 euros per share, paid in cash.
• This is the second acquisition offer from Playtika to Rovio, which is best known for the Angry Birds franchise.
Israel-based mobile games developer Playtika Holding Corp (NASDAQ: PLTK) has recently sent a proposal to buy Finnish video game developer Rovio Entertainment Corporation (HEL: ROVIO). The proposed acquisition deal is valued at 683 million euros ($737.50 million), or 9.05 euros per share, paid in cash. This is the second offer made by Playtika to Rovio, which is best known for the Angry Birds franchise.
Robert Antokol, CEO of Playtika, commented, “We firmly believe the combination of Rovio’s strong presence in the casual gaming segment and Playtika’s experience in the social gaming industry will create a powerful platform to drive growth across the games portfolio.”
The potential acquisition would give Playtika access to Rovio’s top-grossing games, such as Angry Birds 2, which had a record-breaking year in 2020, as well as other titles. It would also help Playtika expand its reach in the casual gaming segment, with Rovio’s games currently available in more than 180 countries.
Rovio’s board of directors has yet to make a decision on the proposed acquisition. No agreements have been made between the companies, and there is no assurance that any transaction will materialize or eventually be completed. However, if the acquisition were to go through, it would mark the first major acquisition for Playtika since it went public in 2016.
In the meantime, Playtika is continuing to grow its presence in the mobile gaming industry. The company recently acquired mobile game developer Wooga, and it is also continuing to expand its portfolio with new titles.
It remains to be seen if the proposed acquisition of Rovio by Playtika will be successful. However, it is clear that Playtika is looking to make a major move in the mobile gaming industry, and the potential acquisition of Rovio could be a major step in that direction.