Mobile game developer Playtika Holding Corp. has attracted renewed takeover interest from private equity buyers, according to people familiar with the matter.
(Bloomberg) — Mobile game developer Playtika Holding Corp. has attracted renewed takeover interest from private equity buyers, according to people familiar with the matter.
Playtika, which said last year it was conducting a strategic review, has been working with advisers since then and the process has regained momentum, said the people, asking not to be identified discussing confidential information. The Israel-based company hasn’t reached an agreement and its plans could still change, the people said.
A representative for Playtika declined to comment.
Playtika said in February 2022 that it was working with Raine Group on a strategic review that could include a sale or another potential transaction.
Playtika rose 5.9% to $12.37 at 3:26 p.m. in New York trading Monday, giving it a market value of about $4.5 billion.
Last year, its revenue grew just 1.3% to $2.6 billion, while net income fell 12% to $313 million.
The company, led by Chief Executive Officer Robert Antokol, makes online and mobile games with Las Vegas themes — including “Caesars Slots” and “Slotomania” — as well as the popular “Bingo Blitz” and “Poker Heat.” It’s based in Herzliya, Israel, a coastal city north of Tel Aviv that’s become a technology hub.
–With assistance from Michelle F. Davis and Kamaron Leach.
(Updates trading in fifth paragraph.)
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