Unity’s board does not consider AppLovin’s surprise offer of a merger to be in its best interests, and has urged its shareholders to vote in favour of the original IronSource deal.
“The Unity Board reaffirms its recommendation to Unity’s shareholders to vote in favor of the previously announced ironSource transaction and recommends against the unsolicited AppLovin proposal,” the statement reads. “The Unity Board is committed to acting in the best interests of Unity shareholders with a focus on driving long-term sustainable value creation.”
Unity president and CEO John Riccitiello said of the latest decision: “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.”
“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.”
So barring another dramatic twist in this tale, the Unity/IronSource merger which values the latter company at $4.4bn will now go ahead after all.