Unity previously turned down an offer from AppLovin worth $17.5 billion in favor of a deal with the Israeli-founded mobile app monetization company.
On Monday, Unity and ironSource announced the completion of their merger, four months after the initial announcement.
Unity’s goal with ironSource is to become the industry’s leading end-to-end platform for mobile app creators. Unity will be able to support developers throughout the development lifecycle as they create, run, and grow immersive, real-time games and 3D experiences. According to a statement released by Unity on Monday, “the combined company is expected to be highly profitable and generate positive free cash flow.”
Prior to the transaction, ironSource was predicted to conclude 2022 with a 40% increase in revenue and $765 million in revenue. IronSource was anticipated to earn more than $200 million in yearly EBITDA. They are expected to generate a $1 billion operating profit by 2024.
“The driving force behind this industry-changing merger is to create more value for developers across the entire development journey,” said Tomer Bar-Zeev, CEO of ironSource. “We are very excited about the road ahead as we begin integrating our product portfolios more deeply and strengthening the feedback loop between creating great games and growing them into successful businesses. In doing so, we’ll be able to create a world where more creators are more successful than ever before.”
As previously stated, Tomer Bar-Zeev, Shlomo Dovrat, and David Kostman have joined the Unity Board of Directors as a result of the transaction’s completion, bringing the total number of Board members to 13.