Iron Source announced the acquisition of the mobile advertising company Tapjoy for $ 400 million

Iron Source, managed by Tomer Bar-Ze'ev, CEO and co-founder, announced today (Thursday) the acquisition of the mobile advertising company Tapjoy for $ 400 million in cash - and the share of Iron Source jumped by 6%. The deal is expected Close in the fourth quarter of 2021 or the first quarter of 2022. Tapuji is engaged in mobile advertising and monetization (generating revenue from applications). Revenue of $ 81 million in 2021.
According to Iron Source, the acquisition will strengthen its platform on several levels: Iron Source customers will be able to increase their revenue by diversifying their exposure to new advertisers; Iron Source customers will receive exposure to Tapjoy technology; And Iron Source will increase its technology exposure to apps and games.
Iron Source, which employs 850 people, has created a technology network for targeted advertising in tens of thousands of applications. The developers are embedding its technology (SDK), and using it to incorporate targeted advertisements in their games. Alternatively, they can advertise themselves on the network of apps that work with the company. Iron Source began trading on the NASDAQ last July after merging with Spock at a value of $ 11.1 billion
The company is currently traded at a value of about $ 11.9 billion. The company reported in the second quarter an 80% increase in revenue to $ 135 million and raised revenue forecasts for 2021 as a whole to $ 520-510 million. Iron Source reported cash balances of $ 710 million as of the end of the second quarter of 2021, so that after the acquisition it will have about $ 300 million left. "Iron Source has a long history of successful organic growth," said Bar Zeev, "We plan to continue making acquisitions to expand our platform."