App discovery company ironSource has finally confirmed reports from July that it is buying Israel company, Supersonic, which has developed a mobile monetization platform. No financial details were disclosed but ironSource, which is also an Israeli company, is believed to be paying about $150 million in cash and shares.
The agreement, ironSource says, will enable a world-class product offering with massive scale, providing developers and advertisers the industry’s most complete end-to-end solution for mobile monetization and marketing.
ironSource has developed a software engine that matches download recommendations based on programs already installed on the user’s computer.
ironSource CEO Tomer Bar Zeev said, “There are many inconsistencies in the mobile industry that we are poised to solve with this merger. Issues such as cross screen tracking, mobile targeting and reporting. Together, our companies will become the go-to platform for mobile developers and advertisers. We believe that combining Supersonic’s strengths with ironSource’s data, scale and technology will position us to be the market leader in providing mobile analytics, distribution and monetization solutions. With Supersonic, we are significantly adding to our reach to make us one of the largest players in the industry.”
Supersonic CEO Gil Shoham said, “While our businesses complement each other perfectly, the real driving force behind this deal was a shared vision. Today, mobile developers and advertisers are forced to work with multiple partners in order to achieve their goals. Our combined product offering will now provide developers the most complete independent platform at scale. By joining forces, we will be able to bring more value to our customers and accelerate the investment in our technology.”
The merged company will have 800 employees - 550 from ironSource and 250 from Supersonic and revenue for the merged company in 2015 should be about $450 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2015
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