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AppLovin Corp. has decided to withdraw its bid to acquire Unity Software Inc. The mobile technology company announced on Monday that it will not be presenting another proposal for the merger, despite initially offering $17.5 billion. AppLovin believes that remaining independent is more beneficial for its stockholders and stakeholders, allowing them to focus on expanding their platform and gaining market share. This move opens the way for Unity Software to pursue its planned $4.4 billion acquisition of AppLovin competitor, ironSource Ltd.
Sunday, 11 September, 2022