Israeli app monetization platform developer ironSource (NYSE: IS) today announced that it entered into an agreement to acquire San Francisco-based mobile advertising and app monetization company Tapjoy Inc. for $400 million cash.
ironSource said that the acquisition will strengthen its platform offerings for mobile app and game developers through several areas of synergy: ironSource customers will be able to generate more revenue with greater access to diversified advertiser demand, including through the Tapjoy marketplace. Customers will also benefit from complementary technology allowing app developers to enhance in-game economies. The acquisition is also planned to increase ironSource’s software development kit capabilities for both apps and games.
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ironSource cofounder and CEO Tomer Bar Zeev said, “ironSource has a long history of successful inorganic growth. We plan to continue being acquisitive in the market to build out the only comprehensive, customer-centric business platform in the app economy.”
ironSource cofounder and CTO Omer Kaplan added, “Our platform-based approach to serving app developers means we’re able to plug in multiple strategic additions to our software platform to add more value for customers,” said Omer Kaplan, CRO and co-founder of ironSource. “This acquisition follows that strategy, ultimately allowing us to serve our customers in the most beneficial way possible, by growing our SDK footprint, improving our monetization capabilities, and positioning our platform as a deep and integral part of the in-app and in-game economy.”
Tapjoy CEO Jeff Drobick said, “Tapjoy’s technology powers monetization, user acquisition, and customer research for some of the world’s largest brands and app developers, with our SDK integrated on approximately 66,000 apps reaching over 1.6 billion monthly active users. As the app economy continues to grow, we believe that ironSource is the ideal partner to further leverage our products and expertise for continued growth.”
Tapjoy is forecast to record $81 million revenue in 2021. Tapjoy is highly profitable and the transaction is accretive to ironSource in 2022. The deal is expected to close before the end of the first quarter in 2022.
ironSource’s share price is up 6.22% at $11.78, giving a market cap of $11.954 billion.
Published by Globes, Israel business news – en.globes.co.il – on October 14, 2021
Copyright of Globes Publisher Itonut (1983) Ltd. 2021
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