$17.5bn Unity acquisition proposed by gaming software company AppLovin
UPDATE: Unity rejects AppLovin's offer.
UPDATE 15/08/22: Unity has rejected the offer from AppLovin, that saw the gaming software company seek to aquire Unity in a $17.54bn all-stock deal.
Per GamesIndustry.biz, Unity's board of directors decided to reject AppLovin's offer in order to go ahead with a previously announced deal with IronSource. Here, the board stated that AppLovin's proposal was "not in the best interests of Unity shareholders."
Meanwhile, on the IronSource deal, Unity CEO 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, monetise, and grow live games and real-time 3D content seamlessly."
The original story continues below.
ORIGINAL 09/08/22: AppLovin has offered to buy Unity Software in a $17.54bn all-stock deal.
As reported by Reuters, the offer was made earlier today.
It is claimed that AppLovin, a mobile technology company from California, offered $58.85 for each Unity share.
Adam Foroughi, AppLovin's chief executive officer, stated that combining the two companies will potentially generate "an adjusted operating profit of over $3bn by the end of 2024".
"Unity is one of the world's leading platforms for helping creators turn their inspirations into real-time 3D content," Foroughi said.
Unity's engine has been used to develop popular mobile games including Call of Duty: Mobile (pictured above) and Pokémon Go.
It was also the engine used for the short lived God of War knockoff, War Gods Zeus of Child.
On this, Digital Foundry's John Linneman said, "Unity can be an amazing engine," however, games such as the God of War rip-off "probably [contribute] a little bit to the sometimes unfair distaste people have for [it]."
