Rovio rejected $2 billion Zynga acquisition offer
Zynga reportedly offered more than $2 billion for Rovio, but was turned down by the Angry Birds studio.
It should come as no surprise that Zynga is in the business of acquisitions, especially in the wake of the company paying roughly $200 million for Draw Something developer OMGPOP. But not every developer is keen on being bought, as Rovio apparently balked at the publisher's offer for more than $2 billion.
Bloomberg reports that Rovio rejected the offer, according to an unnamed source. It is unclear, based on the report, exactly when this offer took place, but given the purported size of the deal it would logically have been after Angry Birds was a bona fide hit.
Currently the company has $1.81 billion in cash and short-term investments, and is looking to acquire other studios. "We're sitting in a very advantageous position," said merger chief Barry Cottle. "We have a significant amount of cash, we have no debt, and we have access to debt to be as aggressive as we need to be."
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Steve Watts posted a new article, Rovio rejected $2 billion Zynga acquisition offer.
Zynga reportedly offered more than $2 billion for Rovio, but was turned down by the Angry Birds studio.-
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I'd love it if they would participate. But, my argument would be, don't sell your ass to Zynga. If you're talented, you can find employment in nowheresville for real money. It's great to live in Cali, or hipsterville, Texas, but spend a few years being appreciated and growing as a professional. Being some random shitbird from Zynga is not going to sell you after they lay you off.
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Why WOULDNT you sell out to Zynga?
My friend works at OMGPOP who just got bought out by Zynga. He has no problems with it at all. He got a boatload of cash, enough from the buyout to pay off his student loans, his wifes student loans, and has plenty left over and still has a job. Plus his portfolio is good enough where if he wanted to, he could leave and get a job somewhere else.
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I don't understand how they could turn this down. The people who would get the lion's share of this money would be stupidly rich - enough to ensure that their lives will be an orgy of whatever flavour they so desire for the rest of their days. Their children will be taken care of, whether that means luxury yachts in the Mediterranean or converted silo bunkers to ride out the coming Crash. There is no point in these people trying to accrue more money than this.
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Where did you learn metric prefixes?
Lower case m is "milli", which is 1/1000, so if anything mm would be "millimilli" or a micro (1/1000000), but in the sane world "mm" means millimeters. Capital M is mega, or one million.
http://en.wikipedia.org/wiki/SI_prefix -
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well, at least more than $5B US....
Still, Chief Marketing Officer Peter Vesterbacka tells the magazine that Rovio has a market value of more than EUR8 billion.
http://www.totaltele.com/view.aspx?ID=469976
Last summer, Finnish Angry Birds creator Rovio caused a stir by declining a bid worth over 2 billion US dollars from rivalling Zynga. The rejection might prove a wise move. In the US, the current estimates for Rovio’s market value range between 6 and 9 billion dollars.
http://www.arvopaperi.fi/uutisarkisto/is+angry+birdsrsquo+creator+rovio+worth+9+billion+dollars/a782737
seems like rovio in the drivers seat here, and zynga just trying to low ball it.
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If I was the rovio dudes I woulda pulled this out http://shop.angrybirds.com/us/mighty-eagle-18-plush-toy.html
and threw it at the Zynga offer -
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