Unity shares slide after AppLovin withdraws $18 bln takeover offer [Reuters]
Applovin Corporation - Class A (APP)
Company Research
Source: Reuters
Unity had last month rejected a $17.54 billion all-stock bid from AppLovin that included the condition its $4.4 billion pursuit of Tel Aviv-based ironSource cannot go ahead. AppLovin, whose services compete with ironSource in helping developers grow and monetize their apps, said late on Monday it would not table a higher bid and had pulled its initial offer. Shares of AppLovin and ironSource were down 5% and 4%, respectively, amid broader market weakness after surprisingly strong inflation data. An acquisition would have helped AppLovin build machine-learning capabilities using Unity's platform that has been used for games such as "Pokemon Go". AppLovin now plans to focus on fast-growing categories such as connected TV and offerings for manufacturers. Analysts, however, expect AppLovin to face strong competition from Unity and ironSouce's merger deal alongside a weakening mobile ad market. "Without AppLovin's further involvement, Unity's merger with ironSource is likely to
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APP
Earnings
- 2/14/24 - Beat
APP
Sec Filings
- 4/8/24 - Form 4
- 4/4/24 - Form 144
- 3/18/24 - Form 4
- APP's page on the SEC website