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Inside information: Rovio Entertainment Corporation announces commencement of a strategic review and preliminary non-binding discussions with certain parties in relation to a potential tender offer for Rovio‘s shares
Stock Exchange Release Rovio Entertainment Corporation 6 February 2023, at 8:40 a.m. EET
Following receipt by Rovio Entertainment Corporation (“Rovio”) of expressions of interest and indicative non-binding proposals to acquire all the issued and outstanding shares in Rovio, the Board of Directors of Rovio has decided to commence a strategic review.
As part of its strategic review, the Board has decided to enter into preliminary non-binding discussions with certain parties, including Playtika Holding Corp., who on 19 January 2023 announced a non-binding indicative proposal to acquire all issued and outstanding shares of Rovio at a proposed price of EUR 9.05 per share. Pursuant to its fiduciary duties, the Board of Rovio continues to explore all strategic alternatives in order to reach the best possible outcome for Rovio and its shareholders.
There can be no assurance that the strategic review and the preliminary non-binding discussions will result in any cash or other tender offer or any other transaction, or the pricing of any such possible transaction. Rovio will release further information at an appropriate time.
Rovio Entertainment Corporation
The Board of Directors
For more information, please contact:
Alexandre Pelletier-Normand, CEO
+358 40 730 3442
Nasdaq Helsinki Ltd
Main news media
Rovio Entertainment Corporation is a global mobile-first games company that creates, develops and publishes mobile games, which have been downloaded over 5 billion times. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment, animations and consumer products in brand licensing. Rovio has produced The Angry Birds Movie (2016), and its sequel, The Angry Birds Movie 2 was released in 2019. The company offers multiple mobile games and has eight game studios – one in Espoo (Finland), one in Stockholm (Sweden), one in Copenhagen (Denmark), one in Barcelona (Spain), two in Montreal and one in Toronto (Canada). The studios also include a subsidiary in Izmir (Turkey) called Ruby Games, which was acquired in 2021. Most of the employees are based in Finland where Rovio is headquartered. The company’s shares are listed on the main list of NASDAQ Helsinki stock exchange with the trading code ROVIO. (www.rovio.com)