The board of mobile gaming specialist Rovio Entertainment opened preliminary talks with parties interested in buying the company, part of a wider strategic review of the business.
In a stock market statement Rovio’s directors announced a sweeping review of the company, which is best known for the Angry Birds brand, and revealed the commencement of discussions after receiving a number of proposals and expressions of interest in an acquisition.
Initial talks will be held with “certain parties” including Playtika Holding, a developer and publisher of mobile games including Pirate Kings, puzzle game Best Friends and various poker, bingo and casino-themed apps.
Last month Playtika launched a non-binding offer to buy Rovio for €9.05 per share, which values the bid at around €750 million on the latter’s latest declared figures of issued shares.
In its disclosure today (6 February) Rovio’s board noted it continues “to explore all strategic alternatives”, adding there was no guarantee the review or discussions would lead to a transaction.
The move comes at a time of significant consolidation in the gaming industry with Microsoft currently in the process of getting a deal to buy Activision Blizzard through regulators and Sony announcing a deal to acquire Savage Game Studios in 2022.