IronSource Shares Surge 47 percent on Merger Announcement With Unity Software

IronSource Ltd. (NYSE:IS) shares closed more than 47% higher on Wednesday following the announcement, according which the company and Unity Software have entered a merger agreement whereby ironSource will become a wholly-owned subsidiary of Unity. The all-stock deal (expected to close by Q4/22), with each share of ironSource expected to be exchanged for 0.1089 shares of Unity common stock, values ironSource at about $4.4 billion.
Analysts at Oppenheimer believe the transaction makes financial and strategic sense for Unity and expect little regulatory pushback.

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