Unity rejects proposed takeover by AppLovin

Engine creator Unity (opens in new tab)has officially rejected a takeover offer by AppLovin. The tech firm, known for its mobile marketing and analytics platforms like AppDiscovery and SparkLabs, had previously offered (opens in new tab)$17.54 billion to buy the well-known software developer, whose engine has powered games like Kerbal Space Program and Pillars of Eternity.

The offer was made on condition that Unity drop its own $4.4 billion bid to purchase ironSource, a Tel Aviv-based company that is a rival to AppLovin. But in a statement, 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.” Unity itself further added that AppLovin’s offer “would not reasonably be expected to result in a ‘Superior Proposal’ as defined in Unity’s merger agreement with ironSource.”

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