Rovio not yet in talks with Playtika

The studio is valued at about 750 million euros, according to the offer.

Rovio has stated in a stock exchange release that it is not currently engaged in negotiations with Playtika. It said that it is evaluating the indicative offer to determine whether or not to proceed with it and how.

The release reminds that the indicative proposal is subject to a number of preconditions, including satisfactory completion of due diligence, final approval by the board of Playtika, a unanimous and unqualified recommendation from the board of Rovio, and entry into a combination agreement between Rovio and Playtika.

Shares in the studio went up by 38 per cent on Friday.

The non-binding offer marks the second attempt to acquire Rovio by Playtika. According to Helsingin Sanomat, Israel-based company made an undisclosed offer for the entertainment studio in November 2022, worth 8.50 euros per share.

Playtika has made a number of acquisitions in recent years as it has tried to expand its offering beyond casino games, according to the newspaper. In 2019 the developer of Best Fiends was acquired for an unidentified price, while Reworks, the studio behind Redecor, was acquired for around 340 million euros in 2021.

The company that was the fourth largest studio in Finland in 2020 was shut down less than three years after the acquisition, leading to the sacking of 124 employees in Helsinki in 2022.