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Rovio rejected $2 billion Zynga acquisition offer
by Steve Watts, Apr 17, 2012 4:45pm PDTIt 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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Zynga reportedly offered more than $2 billion for Rovio, but was turned down by the Angry Birds studio.
Zynga reportedly offered more than $2 billion for Rovio, but was turned down by the Angry Birds studio. : Shacknews
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