HERZLIYA, Israel–(BUSINESS WIRE)–Playtika Holding Corp. (NASDAQ: PLTK), a leading mobile gaming company and monetization platform, today announced that it has submitted a revised proposal to the board of directors of Rovio Entertainment Corporation (“Rovio”) (ROVIO.HE) to acquire Rovio for €9.05 per share in cash.
The non-binding proposal, which is not subject to any financing conditions, was submitted to the Rovio Board of Directors on January 19, 2023 and represents an improvement over the initial proposal of EUR 8.50 per share submitted on November 16, 2022. The proposal is subject to customary conditions, including without limitation, satisfactory completion of the in-depth analysis and recommendation of the Rovio Board of Directors. No contract has currently been entered into between Playtika and Rovio and there is no assurance that any transaction will materialize or ultimately be completed.
“We strongly believe that the combination of Rovio’s renowned IP and the scale of its user base, together with our best-in-class monetization and gaming capabilities, will create tremendous value for our shareholders,” said Playtika CEO Robert Antokol.
About Playtika
Playtika (NASDAQ: PLTK) is a leader in the mobile entertainment and technology gaming market with a portfolio of multiple game titles. Founded in 2010, Playtika was one of the first to offer free social games on social networks, and soon after on mobile platforms. Headquartered in Herzliya, Israel, and driven by a mission to entertain the world in endless ways to play, Playtika has employees in offices around the world.
Forward-looking statements
In this press release, we are making “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not refer strictly to historical or current facts. Furthermore, statements that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “could,” ” present,” “preserve” ,” “project,” “continue,” “will” or “would” or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements.
Important factors that could cause actual results to differ materially from the estimates or projections contained in forward-looking statements include, without limitation:
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our reliance on third-party platforms, such as the iOS App Store, Facebook and Google Play Store, to distribute our games and generate revenue, and the risk that such platforms may adversely change their rules;
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our reliance on a limited number of games to generate the majority of our revenue;
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our reliance on a small percentage of total users to generate the majority of our revenue;
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our free-to-play business model and the value of virtual items sold in our games are highly dependent on how we manage our game revenue and pricing models;
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our inability to complete acquisitions, including Rovio, and successfully integrate any acquired businesses could limit our growth or disrupt our plans and operations;
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our inability to improve the monetization and operations of the games in our investments;
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we may not be able to successfully develop new games;
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our ability to compete in a highly competitive industry with low barriers to entry;
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we have significant indebtedness and are subject to covenants and restrictive covenants under our debt instruments;
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legal or regulatory restrictions or procedures could adversely affect our business and limit the growth of our business;
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risks associated with our international operations and ownership, including our significant operations in Israel, Ukraine and Belarus and the fact that our controlling shareholder is a Chinese-owned company;
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our reliance on key personnel;
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the final conditions in the contract are not met or our inability to complete the investment for any reason;
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security breaches or other disruptions could compromise our data or our players’ data and expose us to liability;
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whether the businesses we acquire, including Rovio, will meet our growth expectations;
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our inability to obtain regulatory approvals, if any, to complete the Rovio acquisition; and
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our inability to protect our intellectual property and proprietary information could adversely affect our business.
Additional factors that could cause future events and actual results, financial or otherwise, to differ, potentially materially, from those discussed or implied in forward-looking statements include the risks and uncertainties discussed in our submissions to the Securities and Exchange Commission. Although we believe that the expectations expressed in the forward-looking statements are reasonable, we cannot guarantee that the future results, activity levels, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur, and the reported results would should not be considered an indicator of future performance. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
Except as required by law, we undertake no obligation to update any forward-looking statements for any reason to reflect actual results or changes in our expectations.