Playtika initiates strategic review to explore value maximization

Playtika Holding Corp. (NASDAQ: PLTK) announced that its board of directors has formed a special committee to conduct a comprehensive review of strategic alternatives across its portfolio. The mobile gaming company disclosed that the committee, comprised solely of independent directors, has retained Morgan Stanley & Co. LLC as financial advisor for the process.

The Herzliya, Israel-based company stated the review aims to evaluate opportunities to unlock and enhance shareholder value. Playtika indicated there is no assurance the strategic review will result in any transaction.

The company said it does not intend to disclose developments related to the strategic review unless the special committee and board approve a course of action requiring further disclosure.

Playtika operates multiple mobile gaming titles and was founded in 2010. The company was among the first to offer free-to-play social games on social networks and mobile platforms, according to the press release.

The announcement comes as the company continues efforts to enhance shareholder value through its board of directors' ongoing initiatives.

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