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Unity rejects $17bn merger proposal from tech firm AppLovin – Video Games Chronicle

Video games

Unity’s board of directors have unanimously rejected a proposal from software company AppLovin for a merger worth $17.54 billion.

On Monday, the company said that the proposal was “not in the best interests of Unity shareholders” and that it would now push forward with a previously announced deal to merge with another mobile tech firm, IronSource.

“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, monetize, and grow live games and real-time 3D content seamlessly,” Unity CEO John Riccitiello said.

“We remain committed to and enthusiastic about Unity’s agreement with ironSource and the substantial benefits it will create for our shareholders and Unity creators.”

Unity is one of the world’s most popular game engines, used in leading games such as Pokemon Go and Call of Duty: Mobile.

Unity CEO John Riccitiello recently apologised and promised to “do better” after calling developers not prioritising monetisation “fucking idiots” in an interview.

Riccitiello made the controversial comments in an interview with PocketGamer.biz, in which he was asked about pushback from some developers to the suggestion that monetisation should be implemented earlier in the creative process of games.

Source: https://www.videogameschronicle.com/news/unity-rejects-17bn-merger-proposal-from-tech-firm-applovin/

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