The Israeli company has made an all-cash offer to buy Rovio Entertainment.
Israel-based mobile game developer and publisher Playtika has revealed its intention to acquire Angry Birds maker Rovio Entertainment.
The company announced that it has made an all-cash offer of €9.05 per share to Rovio's board of directors. This represents a 55% premium over Rovio's closing price of €5.82 on Wednesday. The total offer comes to a close of €751 million, or roughly $813 million.
Playtika has been interested in acquiring Rovio for some time now, as the company had made an initial offer of €8.50 per share to the board of directors in November. The offer is non-binding, and Playtika has not reached any agreement with Rovio as of yet.
"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," Playtika CEO Robert Antokol commented.
The announcement of Playtika's offer comes just a month after Playtika revealed that it will be laying off around 600 employees, representing 15% of its headcount, as the company winds down its "non-core products."
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