Acquisition is expected to strengthen ironSource’s platform
offering for app developers, and is intended to further expand its
customer base in games and apps beyond games
ironSource (NYSE: IS) (“ironSource”
or the “Company”) a leading business platform for the App Economy,
today announced that it entered into an agreement to acquire the
mobile advertising and app monetization company Tapjoy, Inc.
(“Tapjoy”).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211014005628/en/
The acquisition is expected to strengthen the ironSource
platform offering 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. In addition,
customers will benefit from complementary technology allowing app
developers to enrich their in-game economies; and the acquisition
is also intended to increase ironSource’s SDK footprint among both
apps and games, growing the company’s scale in the market.
“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.”
"We are delighted to be joining ironSource, a leading business
platform for app developers," said Jeff Drobick, CEO of Tapjoy.
"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."
“ironSource has a long history of successful inorganic growth,”
said Tomer Bar Zeev, CEO and co-founder of ironSource. “We plan to
continue being acquisitive in the market to build out the only
comprehensive, customer-centric business platform in the App
Economy.”
ironSource will acquire Tapjoy for an aggregate purchase price
of approximately $400 million, financed with cash from the balance
sheet. Tapjoy experienced substantial revenue growth and is
expected to generate approximately $81M in net revenues in calendar
year 2021. Tapjoy is highly profitable and the transaction is
accretive to ironSource in CY2022. The transaction is expected to
close in Q421/Q122, subject to customary conditions including
regulatory approvals. For more details, please visit ironSource’s
investor relations site.
About ironSource
ironSource is a leading business platform for the App Economy.
App developers use ironSource's platform to turn their apps into
successful, scalable businesses, leveraging a comprehensive set of
software solutions which help them grow and engage users, monetize
content, and analyze and optimize business performance to drive
more overall growth. The ironSource platform also empowers telecom
operators to create a richer device experience, incorporating
relevant app and service recommendations to engage users throughout
the lifecycle of the device. By providing a comprehensive business
platform for the core constituents of the App Economy, ironSource
allows customers to focus on what they do best, creating great apps
and user experiences, while enabling their business expansion in
the App Economy. For more information please visit www.is.com
About Tapjoy
Tapjoy is a leading mobile advertising and app monetization
company. Tapjoy’s platform empowers advertisers to connect with app
users through value exchange advertising that drives awareness,
engagement, and the metrics that matter most to their overall
growth. Top, global app publishers trust Tapjoy’s platform to
monetize their content, grow their audiences, and reward their
users. Founded in 2007 and headquartered in San Francisco, Tapjoy
is a global organization with offices in Santa Barbara, Boston,
London, Beijing, Tokyo, and Seoul. For more information, visit
www.tapjoy.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release includes various forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, or the Securities Act, and Section 21E of the Securities
Exchange Act of 1934, as amended, or the Exchange Act, which
represent our management’s beliefs and assumptions concerning
future events. These statements are intended to qualify for the
“safe harbor” from liability established by the Private Securities
Litigation Reform Act of 1995. Examples of such forward-looking
statements include, but are not limited to, statements regarding
the expected timing and impact of the transaction, the benefits and
cost synergies of the transaction, expected impacts to operating
expenditures, ironSource’s business strategy and competitive
position following the consummation of the transactions as well as
ironSource’s future prospects, business strategies and projections
for future periods. Words such as “expect,” “estimate,” “project,”
“budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,”
“will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue,” and similar expressions are intended to identify such
forward-looking statements but are not the exclusive means for
identifying such statements. By their very nature, forward-looking
statements involve inherent risks and uncertainties, both general
and specific, and there are risks that the predictions, forecasts,
projections and other forward-looking statements will not be
achieved. You should understand that a number of factors could
cause actual results to differ materially from the plans,
objectives, expectations, estimates and intentions expressed in
such forward-looking statements, such as the failure to consummate
the transaction; failure to satisfy closing conditions to the
transaction; failure to realize the synergies or benefits of the
transaction; and other important factors set forth under “Risk
Factors” in the Company’s Registration Statement on Form F-1
(Registration No. 333-258223) originally filed with the Securities
and Exchange Commission on July 28, 2021, and the Company’s other
SEC filings. ironSource cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Other than as may be required by applicable laws,
ironSource does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211014005628/en/
Media contact: Michal Chafets michal.chafets@is.com
+972548300831 Olivia Davis olivia.davis@fgh.com +1646-918-4742
Investor Relations contact: Daniel Amir daniel.amir@is.com
+1415-726-5900 Media Contact: Matt McAllister Fluid Group
matt.mcallister@fluidprgroup.com Tapjoy Contact: Lauren Baca
Sr. Director of Marketing lauren.baca@tapjoy.com
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