Game engine Unity rejects AppLovin’s takeover offer

Unity’s board has rejected AppLovin’s takeover offer. That company wanted to acquire Unity for $17.54 billion. Unity continues to acquire ironSource, a competitor of AppLovin.

Unity’s Board of Directors judged on Monday about AppLovin’s ‘unsolicited takeover bid’. The board states that the offer is not in the interest of the shareholders and therefore unanimously rejected the offer. The board therefore advises shareholders to vote in favor of its acquisition of ironSource and against the offer of AppLovin.

AppLovin did earlier this month a takeover bid for Unity. The American company wanted to buy the game engine for $ 17.54 billion. This would give Unity 55 percent of the shares and 49 percent of the voting rights of the combined company. In addition, Unity CEO John Riccitiello would become CEO of both companies.

However, a condition for that intended takeover was that Unity would withdraw a takeover bid for ironSource. IronSource is a competitor to AppLovin, which focuses on helping game developers grow and monetize their games. Unity and ironSource both emphasized Monday that they are committed to completing the acquisition. That is expected to happen at the end of this year. AppLovin has not yet responded to Unity’s rejection.