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Playtika ends bid for Angry Birds developer Rovio

Tim Baysinger
Mar 22, 2023
Illustration of a floating Mario-style block with a dollar sign on it.

Illustration: Allie Carl/Axios

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.

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