Unity Software Announces Merger with Ironsource
Jul 13, 2022 By MarketDepth
Unity Software tumbled 16% intraday Wednesday after announcing a merger with Ironsource. The transaction is an all-stock deal worth $4.4 Billion, which is a 74% premium to 30-day average. Unity shareholders will own 73.5% and Ironsource shareholders will own 26.5% of the combined company.
Unity Board has announced that a $2.5 billion share buyback will commence once the transaction is completed with Ironsource.
“We believe the world is a better place with more successful creators in it. The combination of Unity and ironSource better supports creators of all sizes by giving them all the tools they need to create and grow successful apps in gaming and other consumer-facing verticals like e-commerce. This is a step further toward realizing our vision of a fully integrated platform that helps creators in every step of their RT3D journey. We look forward to welcoming Tomer Bar-Zeev, the CEO of ironSource, and the rest of ironSource’s talented team into the Unity family.”John Riccitiello, CEO of Unity.
Ironsource is a leading business platform that empowers mobile content creators to turn their apps into scalable, successful businesses. Unity wants to transform and streamline how live games, RT3D apps and services are made by turning today’s linear creation and growth process into a deeply connected and interactive one.
“To succeed today, creators need an extensive set of solutions and products working in concert to power amazing user experiences and sustainable business growth. The combination of Unity and ironSource brings together every product needed to power that flywheel of growth, in a differentiated platform positioned to lead our category and beyond. We couldn’t be more excited about our shared mission to remove obstacles for creators to grow.”Tomer Bar-Zeev, CEO of ironSource