Israel's Playtika Proposes Higher Bid To Acquire Angry Birds Developer, Rovio

Israel's Playtika Proposes Higher Bid To Acquire Angry Birds Developer, Rovio

The Israeli-based mobile gaming company, Playtika has proposed an increased price to acquire Angry Birds developer Rovio.

In an announcement, Playtika said it would now purchase the shares for a 55% premium of 9.05 Euros which is an increment of the initial offer of 8.50 Euros per share.

Robert Antokol, CEO of Playtika, said, “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.”

With this move, it is visible that Playtika has been eager to acquire Rovio for some time thus increasing their purchase offer this time. However, there has been no agreement between Playtika and Rovio currently and there is no assurance that any transaction will materialize.

James Draper, CEO, and Co-founder of Bidstack passed a comment saying, “And the potential deal has already piqued the interest of figures from around the industry. “Rovio’s a solid business, with consistent revenues, but could well benefit by being part of a larger group.”

“The Angry Birds IP continues to be strong with global appeal. Coupling with Playtika’s large monetisation teams, I can foresee additional advertising growth through their portfolio. As brands look to deploy more dollars to gaming audiences, this is one of many consolidations I expect to see over the coming 12 months, with household name IP being acquired-in to drive revenues and user acquisition,” he added.

Playtika is a leading mobile gaming entertainment and technology company with a portfolio of multiple game titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms.