Earlier this year, we brought to you the news that Israeli digital entertainment developer Playtika (and “certain parties”) were in the running to acquire Finland’s Rovio, most noted for their Angry Birds franchise.
According to Rovio, its Board of Directors commenced “a strategic review and that, as part of such review, Rovio has decided to enter into preliminary non-binding discussions with certain parties, including Playtika Holding Corp (”Playtika”)”. So far so good, right?
Perhaps not, as less than a month later Playtika CFO and President Craig Abrahams announced during an earnings call a strategic shift in strategy as far as new games development was concerned, noting that the company would only start launching new titles again only when the ROI becomes “economically valuable” again.
Not exactly great words to hear from a potential buyer when you’re sitting atop one of the world’s arguably best-known and highly loved franchises.
Now add to the mix that on the 19th of January 2023, a full two weeks and a few days before the Rovio Board confirmed circulating rumours, that Playtika had submitted a revised non-binding proposal. Meaning, Playtika’s first offer wasn’t even compelling enough to be taken seriously. A revised version was cause to sit up and take notice and give things a thorough combing through, but now, would appear not quite close enough to the mark to make it across the finish line.
As noted in a statement provided by Rovio: “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.”
Meaning, those “certain parties” that were cited in the original news surrounding Playtika are very much still in play, and according to Rovio are offering a more compelling proposition as Rovio has gone on record to say that the preliminary talks with Playtika have now ended.
As for who these “certain parties” are, we’ll have to wait and see. If you’ve any information to share, confidentiality is ensured - [email protected].