Gaming software company AppLovin Corp on Tuesday made an offer to buy peer Unity Software in a US$17.54 billion all-stock deal, looking to tap into growing demand for three-dimensional gaming.
Unity's software has been used to build some of the most-played games such as Call of Duty: Mobile, and Pokemon Go, while AppLovin provides helps developers to grow and monetize their apps. AppLovin Chief Executive Officer Adam Foroughi said the combined company will have the potential to generate an adjusted operating profit of over US$3 billion by the end of 2024.
Last week, Reuters reported that Unity was in talks to spinoff its China unit to expand in one of the world's biggest markets for video games.
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