Playtika ends bid for Angry Birds developer Rovio

Playtika, the Israeli-based mobile game developer, ended its bid to acquire Angry Birds maker Rovio, the company said Tuesday.

Why it matters: The scuttled deal, for which Playtika was offering $735 million, would have been the latest consolidation move in a gaming space that has seen a lot of it lately.

The big picture: Playtika's offer, which was submitted in January, was a 60% premium over the Finnish-based Rovio's share price at the time. Rovio's stock price has risen 35% since then.

• In February, Rovio announced it was undergoing a strategic review and had entered non-binding discussions "with certain parties" that included Playtika.
• Playtika, founded in 2010, is an Israeli maker of casual mobile games and "social casino" games.

What's next: In a statement, Rovio said it's still in talks "with certain other parties" on a potential deal.