Playtika Makes Second Acquisition Offer to Buy Rovio for $737.5M

• Playtika Holding Corp, an Israel-based mobile games developer, 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, which values each share of Rovio at 9.05 euros, or about 60% higher than the company’s closing price on January 19.

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 would be as much as 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 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: “We firmly believe the combination of Rovio’s iconic entertainment franchises and its talented team with Playtika’s global reach and expertise in mobile gaming will accelerate our mission to become the world’s leading mobile gaming company.”

Rovio is best known for the Angry Birds franchise, which has become one of the world’s most beloved gaming brands. It has more than 4 billion downloads across all platforms, with over 1 billion active players each month. Rovio’s portfolio also includes the successful game franchises such as Angry Birds Friends, Angry Birds Go!, Angry Birds Stella and Angry Birds Evolution.

This is not the first time Playtika has shown an interest in acquiring Rovio, as the first offer was made on November 16, 2022, when Rovio submitted an 8.50 euros per share proposal to the Rovio Board of Directors. However, no agreements have been made between the companies, and there is no assurance that any transaction will materialize or eventually be completed.

The offer comes after Playtika completed a successful IPO in July 2020, raising $1.9 billion, and is now valued at over $13 billion. It has established itself as one of the most successful mobile gaming companies in the world, and its acquisition of Rovio would be a major step in its mission to become the world’s leading mobile gaming company.

If the acquisition is successful, it would mark a major milestone in the history of both companies. Rovio would become a part of the Playtika family, and Playtika would gain access to the Angry Birds franchise and all of Rovio’s other gaming properties. It remains to be seen whether the two companies will be able to reach an agreement, but the potential for success is definitely there.