AppLovin makes $17.5 billion acquisition offer for video game software developer Unity

Gaming software company AppLovin Corp made an offer to buy its peer Unity Software Inc in a $17.54 billion all-stock deal, threatening to derail Unity’s announced plan to acquire AppLovin’s smaller competitor, ironSource.
AppLovin has offered $58.85 for each Unity share, which represents a premium of 18 percent to Unity’s closing price. Unity will own 55 percent of the combined company’s outstanding shares, representing about 49 percent of the voting rights.
AppLovin hired advisors to work out an offer after Unity last month said it would buy ironSource in a $4.4 billion all-stock transaction, sources familiar with the matter told Reuters. According to the proposal, Unity’s board will have to terminate the ironSource deal if it wants to pursue a combination with AppLovin.