Applovin no longer looking to pursue Unity deal

Applovin has reeled in its efforts to merge with Unity, following the latter’s move to continue with an existing deal with IronSource.

Last month, the platform made an unsolicited offer to join forces with the engine maker that would see Unity shareholders receive 55% of shares of the combined company.

“AppLovin saw potential in combining its profitable business model and machine-learning capabilities with Unity’s Create platform,” Applovin said in a statement. “The opportunity was even more interesting given the market headwinds facing the industry.”

“Following careful consideration, AppLovin concluded that its path as the independent market leader is better for its stockholders and other stakeholders. AppLovin will move forward with the intention of continuing to gain market share and expand its platform.”

Applovin proposed the deal to Unity on August 9, a few weeks after Unity announced that it had entered a merger agreement with IronSource.

One prerequisite of the proposal was that Unity abandoned the deal in favour of Applovin’s merger. Unity rejected Applovin’s offer less than one week after it was made, and opted to move forward with its original agreement with IronSource.