Unity Technologies reassures ironSource by declining AppLovin’s merger proposal | TechBuzz

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ironSource and Unity Technologies estimate that the merger of the two entities will be completed in the fourth quarter.

After evaluating the offer proposed by AppLovinestimated at $17.5 billion, which would give Unity Technologies not less than 55% of the combined company’s outstanding shares and 49% of the voting rights, the management of Unity Technologies and its advisers decided that the economics of such a combination were not in the best interests of the shareholders and considered that the merger with ironSourcean Israeli company specializing in app monetization solutions, could help balance its business without overinvesting in adtech.

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John Riccitiello, CEO of Unity Technologies, comments on the rejection of AppLovin’s merger offer:

The Board of Directors continues to believe that the ironSource transaction is compelling and provides an opportunity to drive long-term value through the creation of a single, end-to-end platform that enables creators to develop, publish, seamlessly run, monetize and grow real-time 3D games and content. We remain excited about the agreement between Unity Technologies and ironSource and the substantial benefits it will create for our shareholders and for the creators who use the Unity engine.

Unity Technologies will merge well with ironSource

The ironSource teams are committed to closing the transaction with Unity Technologies because it will create superior value for shareholders, customers and employees. For the record, this transaction will offer the shareholders of Unity Technologies 73.5% of the shares of the merged company, against 26.5% for the shareholders of ironSource (company valued at 4.4 billion dollars in the context of this merger -acquisition), and should generate an EBITDA of one billion dollars by the end of 2024.

A contract with the US government for Unity Technologies

Unity Technologies recently won a multi-million dollar contract with CACI International, a company that provides the US government with surveillance technology across multiple government sectors. Marc Whitten, Senior Vice President of Unity Technologies, said:

Through this new relationship, we will help the government define human-machine interfaces or HMIs for aerospace applications and beyond. These applications require an interactive and robust user experience, very similar to that of games.

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This contract would be the largest digital twin solutions contract for Unity Technologies to date and, according to the company, will secure Unity’s platform for future systems design and simulation programs within the US government. A Vice report released last year detailed how employees had spoken out against Unity Technologies’ past work with the US government. The company was struggling to explain why its employees, who supposedly signed on to create tools for game creators to thrive, were now, directly or inadvertently, developing technology for the military with the stated purpose of fight wars.





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