IronSource, a company based in Israel that enables brands to manage an app business from one platform, announced today that it has entered into an agreement to acquire mobile advertising and app monetization company Tapjoy for about $400 million, financed with cash from the balance sheet.
Tapjoy experienced substantial revenue growth and is expected to generate approximately $81 million in net revenue in 2021.
The transaction is expected to close in fourth-quarter 2021 or first-quarter 2022, subject to customary conditions, including regulatory approvals.
The companies cited several ways that the acquisition will strengthen the ironSource platform offering for mobile app and game developers.
“Both companies share a core focus on developing products specifically designed to help app developers grow their app businesses, and we believe that together we'll be able to empower more app developers to prosper in the fast-growing App Economy,” a Tapjoy spokesperson said.
For now, no changes or integrations are planned, and its business as usual whether ironSource and Tapjoy customer.
The spokesperson said that it’s possible in the future the companies will change the way the combined companies could “leverage the complementary strengths of each technology to deliver the best combination to our clients."