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Rovio are officially in talks with Playtika, and others, for a potential sale

A recent statement on Rovio’s investors page indicates that the Angry Birds developer may also be in talks with other interested buyers
Rovio are officially in talks with Playtika, and others, for a potential sale
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Further information has emerged about the potential purchase of mobile developer Rovio by Israeli publisher Playtika in a statement on the company's website, including that they may not be the only potential buyers.

In the statement Rovio noted, in order to adequately inform investors, that they were officially in talks with Playtika about a potential sale. In the statement announcing their “Strategic Review” the company singled out Playtika, who have been in the news for their public offer to acquire the company, but it should be noted that there seemed to be other buyers interested in purchasing Rovio.

“As part of its strategic review, the Board has decided to enter into preliminary non-binding discussions with certain parties, including Playtika Holding Corp., who on 19 January 2023 announced a non-binding indicative proposal to acquire all issued and outstanding shares of Rovio at a proposed price of EUR 9.05 per share. Pursuant to its fiduciary duties, the Board of Rovio continues to explore all strategic alternatives in order to reach the best possible outcome for Rovio and its shareholders.”

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The statement however does not necessarily mean that there are other buyers who have made the same commitments that Playtika has. It does indicate that Rovio is seriously exploring the option of a sale, enough to consult other potentially interested parties. In the event of a sale to Playtika, they would then be able to point to these consultations as an example of due-diligence in seeking out the “Best possible outcome for Rovio and its shareholders.” However, if the potential sale sparks interest, we may see another offer in the near future from interested parties who see this statement as indication that the potential window for a sale is closing.

Although the statement does not indicate a finalised sale, it does indicate that Rovio are giving the offer serious consideration. Hence notifying investors in this way. Playtika themselves seem intent on diversifying and building their revenue stream after a round of layoffs late last year that saw 600 jobs lost, with the company facing a somewhat turbulent 2022. Should they acquire Rovio, however, they’ll be gaining one of most historically significant companies in mobile gaming, with the developer of Angry Birds, a massive multimedia franchise that remains one of the most prominent franchises in mobile gaming.