Unity Favours ironSource Acquisition: AppLovin Rejected by Board

In yet another twist of the Unity x ironSource acquisition saga, the Unity Board of Directors has ruled that it is not in the best interest of shareholders to accept the “unsolicited” AppLovin proposal. But to continue with the previously agreed ironSource x Unity merger.

Unitywho host the world leading platform for real-time 3D (RT3D) content creation and operation and ironSourcea leading business platform in allowing creators to scale apps into successful businesses had announced a joint venture in late July. The merger looked to provide the first end-to-end platform for developers. From creation through monetization and growth. Redefining the game development roadmap for creators.

However, just two weeks ago, AppLovinoperator of a leading mobile marketing and monetization service made a non-binding proposal to Unity. Stating clearly they would be the best partner in Unity’s goals of achieving a complete, end-to-end platform.

The industry waited in anticipation of Unity’s next move, and on August 15 it came. Unity, having conducted a thorough investigation into the proposal by its Board of Directors (with assistance from external financial and legal services) advised it was in the best interest of shareholders that the existing ironSource deal be followed through.

The Unity board found that the unsolicited proposal from AppLovin would not result in a “Superior Proposal”. Sending a clear message to Unity investors, advising that they should vote in favour of the ironSource partnership and against the AppLovin proposal. Reaffirming that “The Unity Board is committed to acting in the best interests of Unity Shareholders with a focus on driving long-term sustainable value creation.”

Speaking to the announcement by the Board of Directors, Unity CEO and President, John Riccitiello said “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.” Adding that “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.”

What comes next from AppLovin is anyone's guess. To read about the ironSource acquisition click here. For more information on the AppLovin proposal click here. And for more news, guest articles and everything mobile games checkout Gamesforum Online!

By Josh Vowles