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Jerome García April 11, 2023 2 min read
Private Equity Firms Show Interest in Israel-Based Playtika
Private equity firms may have interest in a takeover of Playtika, the developer behind fan-favorite casino games such as World Series of Poker Social and Caesars Slots, among others
The Israel-based digital entertainment company, developing and publishing mobile gambling games, Playtika, continues to pursue options for a strategic combination or takeover. It was back in February last year when the company confirmed plans for a strategic combination and even the possibility of a sale.
Not unexpectedly, since the announcement, Playtika’s shares picked up. Despite exploring several options, the company still hasn’t reached such an agreement, but that may soon change, suggests Bloomberg. Reportedly, the company may be a target of private equity buyers.
Citing people familiar with the matter that chose not to be identified, the publication explained that the process has gained momentum. Moreover, Playtika is reportedly collaborating with advisors regarding the strategic move, but it is yet to be confirmed whether that would be a takeover or a strategic merger.
Additionally, the new report suggests that the plans aren’t final and may be subject to change. It’s important to mention that Playtika hasn’t officially confirmed or rejected those statements. Still, in light of the possibility of a potential takeover from private equity buyers, the company’s shares jumped Monday.
The Company Continues to Explore Merger, Acquisition Options
The possibility of a new takeover or a strategic combination comes on the heels of a deal that fell through the cracks. Recently, Playtika was in talks for an acquisition of Rovio, the famous company behind the Angry Birds franchise. Back in January, the Israel-based digital entertainment company proposed to acquire Rovio in a deal for approximately $742 million or $9.84 per share.
After the proposal, the company that is best known for its Angry Birds franchise confirmed the completion of a strategic review of its operations. Consequently, in March, Rovio turned down the acquisition deal with Playtika. At the time, it said that it will continue to explore opportunities with other companies.
Earlier last month, Playtika strengthened its leadership team by announcing two strategic appointments. The company confirmed it hired Gili Brundo to the role of chief human resources officer, while Darlan Monterisi joined the company as its new global head of communications. The strategic hires come as no surprise, considering Playtika’s ongoing growth and plans for further expansion.