Playtika Holding Corp. (NASDAQ: PLTK) has offered to buy the Finnish maker of popular mobile games like Angry Birds, Rovio Entertainment Oyj for $810 million.
Shares of Rovio Entertainment soared by more than 37% on the Helsinki stock exchange following the announcement.
Playtika, an Israel-based developer of free-to-play mobile games had proposed to buy Rovio back in November for €8.50 a share. PLTK’s current bid stands at €9.05 a share in cash for the Finland-based company Rovio.
PLTK stated in its press release that currently, there is no agreement “between Playtika and Rovio and there is no assurance that any transaction will materialize or eventually be completed.”
Playtika CEO Robert Antokol commented, “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.”
Analysts are cautiously optimistic about PLTK stock with a Moderate Buy consensus rating of seven Buys and five Holds.
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