Israel-based Playtika Ltd, known for its Slot machines and Card games, has upped its acquisition offer to a whopping $737.5 million (€683 million) to Finnish developer Rovio Entertainment. The Angry Birds maker is yet to comment on this as we wait for further development.
Playtika eager for Rovio acquisition
As per reports from Reuters, on Thursday, January 19th 2023, Playtika offered Rovio what seems to be a huge amount and an improvement from its previous offers. This offer values Rovio at €9.05 per share, which is about 60% higher than the company’s closing price on the last offer date. This is a significant increase from the original offer which was valued at €8.50 per share.
Playtika CEO, Robert Antokol added: “We firmly believe the combination of Rovio’s renowned IP and scale of its user base, together with our best-in-class monetization and game operations capabilities, will create tremendous value for our shareholders.”
The current offer is a €40 million increase above a previously undisclosed amount that Playtika made in November 2022. The increase in offer shows the intent and interest Playtika is having in the acquisition. However, the Finnish developer declined to comment further on the topic. Rovio is still reliant on its popular franchise Angry Birds for its growth.
The gaming industry is currently seeing a number of acquisitions from the larger sharks in the business. NetEase has two recent acquisitions in Quantic Dream and Skybox Labs. Tencent also acquired a major stake in Shift Up in December last year. It won’t be surprising to see more mergers or acquisitions in the coming months as the developments continue.
What are your thoughts on Playtika giving a $737.5 million offer to Rovio for acquisition? Let us know your opinions in the comments below!