Unity Rejects Merger Agreement from Applovin, Decides to go with IronSource

The board of directors of Unity unilaterally voted against accepting AppLovin’s $17.54 billion acquisition offer.

The business declared on Monday that the plan was “not in the best interests of Unity shareholders” and that it would now proceed with the previously announced merger with IronSource, a different mobile technology company.

Unity CEO John Riccitiello commented on the deal saying:

“The board continues to believe that the IronSource transaction is compelling and will deliver an opportunity to generate long-term value through the creation of a unique end-to-end platform that allows creators to develop, publish, run, monetize, and grow live games and real-time 3D content seamlessly. We remain committed to and enthusiastic about Unity’s agreement with IronSource and the substantial benefits it will create for our shareholders and Unity creators.”

The widely used gaming engine Unity announced last month that it would combine forces with mobile app distribution and monetization firm IronSource. However, Unity received an unsolicited buyout offer from the larger rival AppLovin, with the requirement that they end their agreement with IronSource.

The Unity Board decided that AppLovin’s offer was not a “better offering” since the first agreement with IronSource offers Unity longer-term control.

 

 

Muhammad Zuhair
Passionate about technology and gaming content, Zuhair focuses on analysing information and then presenting it to the audience.