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CEO North America > News > AppLovin offers to buy video game maker Unity in $20 billion deal

AppLovin offers to buy video game maker Unity in $20 billion deal

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AppLovin offers to buy video game maker Unity in $20 billion deal
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Gaming software company AppLovin is offering to buy developer Unity Software in a $20 billion deal.

The all-stock merger would be payable in AppLovin stock and would value Unity at $58.85 per share, which is a 48% premium on Unity’s share price as of July 12.

The goal is to move into the growing demand for three-dimensional gaming and expand into new technologies. While Unity’s software is used in games such as Call of Duty: Mobile and Pokemon Go, AppLovin is focused mostly into helping developers to grow and monetize apps.

According to Reuters, under the proposed deal Unity will own 55% of the combined company’s outstanding shares, representing about 49% of the voting rights.

Unity’s CEO John Riccitiello will become CEO of the combined business, while AppLovin Chief Executive Adam Foroughi will take the role of chief operating officer.

AppLovin CEO Adam Foroughi said the combined company will have the potential to generate an adjusted operating profit of over $3 billion 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.

Tags: AppLovinGamingUnity Software

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