The Clap AppLovin (NASDAQ: APP) made Unity (NYSE: U) an offer for a majority stake in the company.
The Deets AppLovin submitted an offer to buy a 55% stake in Unity at $58.85 per share, reaching a total value of $17.54 billion.
What they do? Both companies specialize in developing software that is used to design video games. Unity’s software has been used to develop some of the most played games, while AppLovin helps developers grow and monetize their apps effectively.
Why the Offer? Last month, Unity looked to acquire ironSource for $4.4 billion. The offer submitted by AppLovin will terminate this deal if Unity is interested in merging with AppLovin, according to the proposal.
AppLovin’s offer comes as a bit of a surprise, given that the industry is expected to slow down due to high inflation and gamers becoming more involved with outdoor activities following the ease of COVID restrictions.
Unity will evaluate the offer, although the chances of the deal happening are slim.