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AppLovin, the mobile monetization platform, today announced that it has submitted a non-binding proposal to Unity. Offering to “combine” with Unity, it’s more of a proposed acquisition for what would amount to about $17 billion.
The proposal is for an all-stock deal where Unity’s shares are valued at $58.85 per share, an 18% premium to Unity’s closing price on Monday. Unity’s current shareholders would receive 55% of the company’s shares upon marriage, which would be equivalent to 49% of the voting rights.
There is one stipulation. Unity should end its planned acquisition of Ironsource, one of AppLovin’s competitors. The company planned to use Ironsource’s tools to give creators more options to monetize their creation.
AppLovin has acquired more than a few companies in recent years. It acquired mobile ad company MoPub from Twitter last year for $1.05 billion and mobile game developer Machine Zone in 2020. Adam Foroughi, CEO of AppLovin, said in a statement: “Over the past decade, we have built a leading and innovative company in mobile app marketing and monetization… With the scale that comes from uniting our industry-leading solutions and innovation that would be achieved with the combination of our teams, we expect game developers to be the biggest beneficiaries as they continue to lead the mobile gaming industry into the next growth chapter.”
Unity has not yet responded to the proposal.
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