Transaction

Transaction Details

Closed
November 24, 2019

Sector

Digital Media, Digital Media and Media, Technology

Deal Type

Mergers and Acquisitions, Minority Investment

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GCA Co-Advises CVC on Its Partnership with IronSource

GCA has co-advised CVC on a partnership with ironSource, a leading Israeli mobile marketing company. CVC Funds have agreed to acquire a minority stake in the company for over $400M. The partnership reflects a shared long-term vision to further strengthen ironSource's position as a global market leader in the high-growth mobile advertising and mobile gaming technology markets and will serve to accelerate strategic growth.

IronSource has grown rapidly since its founding in 2009 and is on track to finish 2019 with approximately $1B of revenue. Through its various technologies, the company works with a unique combination of customers including software, app and game developers, telecommunications operators and mobile device original equipment manufacturers (OEMs). The company focuses on developing technologies for app monetization and distribution, with its core products targeting game developers.

The gaming industry is experiencing rapid growth and is on track to generate $180B in 2021, with mobile gaming experiencing a 27% CAGR. IronSource's growth platform provides mobile game developers with the tools they need to grow and scale their game businesses.

Another key growth driver for the company is Aura, ironSource's product for mobile carriers and device manufacturers. Aura provides a dynamic engagement and content distribution solution, empowering OEMs and telecommunications operators to build ongoing relationships with their customers, ultimately turning those customers into engaged users. The technology is integrated on more than 120 million mobile devices globally through partnerships with the top telecommunications operators in the US and international mobile OEMs.

"We are delighted to be partnering with such an innovative and exciting technology business," said Daniel Pindur, Partner at CVC Capital Partners. "The investment in ironSource is a unique opportunity to support a well-respected founder-led organization to accelerate its growth. We look forward to working with the founders and team to take the company to the next level."

Sebastian Kuenne, Managing Director, CVC Growth Partners added: "We are very excited about CVC Funds' first technology deal in Israel. Israel is a hub for leading-edge technology companies and ironSource is a prime example. We are excited by the opportunity to partner with ironSource's founders to continue to provide leading technology solutions to its customers."

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