Home > Strategy > M&A > Playtika ends acquisition talks with Angry Birds creator Rovio

Playtika ends acquisition talks with Angry Birds creator Rovio

| By Robert Fletcher
Social gaming developer Playtika Holding has concluded preliminary discussions with Rovio Entertainment over a potential deal to acquire the creator of Angry Birds.

On 19 January, Playtika put forward an increased offer of €9.05 (£8.01/$9,87) per Rovio share, up from the initial bid of €8.50 that was made in November last year. 

Several weeks later, Rovio announced it would launch a strategic review and that, as part of this, it would enter into preliminary non-binding discussions with certain parties, including Playtika.

However, while the review remains ongoing, Rovio said it had ended talks with Playtika, without going into further detail about the discussions. Talks with other parties are still taking place.

“The board of directors of Rovio continues its strategic review, including preliminary non-binding discussions with certain other parties, in order to reach the best possible outcome for Rovio and its shareholders,” Rovio said.

“There can be no assurance that the strategic review and the preliminary non-binding discussions will result in any cash or other tender offer or any other transaction, or the pricing of any such possible transaction. 

“Rovio will release further information at an appropriate time.”

The phenomenally successful Angry Birds franchise launched in 2009 and has spawned a host of spin-off games, books, comics, films and animated series, as well as a number of theme park rides.

Subscribe to the iGaming newsletter