Playtika reportedly attracts fresh interest from buyout firms

Israel-based mobile game developer Playtika has attracted fresh interest from buyout firms, according to sources familiar with the matter who spoke to Bloomberg.

Playtika announced In February 2022 that it chose The Raine Group as its financial advisor, and has been working with them on exploring potential strategic alternatives since then, which it said at the time that could ‘’include a sale of the company or other possible transactions.’’

According to the sources who wished to remain anonymous since the information is confidential, the process has now accelerated but the Israeli-company has yet to come to an agreement.

Following the report, Playtika’s shares grew 5.9% to $12.37 on Monday, bringing its market valuation to nearly $4.5 billion.

In 2022, Playtika’s revenue increased by 1.3% year-over-year to $2.16 billion, while its net income dropped by 12% Y/Y to $275.3 million.

Earlier this year, the company made an offer to acquire Rovio, the developer of Angry Birds, for a total of $810 million, but the acquisition talks came to an end last month.