Playtika offers €690m for “Angry Birds” maker Rovio

Finance News

Playtika Holding said on Thursday it offered to buy Finnish game maker Rovio, best known for its “Angry Birds” franchise, for 683 million euros ($683 million) in a sweetened all-cash deal.

The offer price of 9.08 euros per share represents a premium of about 60% to Rovio’s close of trading on Jan. 19.

Playtika’s offer is roughly 40 million euros more than its previous offer in November. Shares of Playtika were down 4.7%.

The latest offer comes as the gaming industry is going through a round of consolidation. Last year, Microsoft offered to buy Activision Blizzard for $69 billion, while Sony Interactive Entertainment said it would acquire Bungie Inc, the original creator of the “Halo” videogame, in a deal valued at $3.6 billion.