8/9, 5:45 PM (Source: TeleTrader)
more TeleTrader news

AppLovin offers to buy Unity in $17.5B deal

AppLovin announced Tuesday that it had offered to buy video game maker Unity Software Inc.

According to the proposal, the deal is expected to be worth some $17.54 billion in stock, aiming to capitalize on the growing demand for three-dimensional games. "Together, the combined business would be poised to offer the most comprehensive and fully integrated creation and growth platform for app developers."

"We believe that together, AppLovin and Unity create a market leading business that has tremendous growth potential that would generate an estimated run-rate Adjusted EBITDA of over $3 billion by the end of 2024 and would be in the best interest of shareholders of both companies," said Adam Foroughi, AppLovin CEO.

Baha Breaking News (BBN) / JG