IronSource, an Israel-based app services provider backed by conglomerate Access Industries, agreed yesterday to merge with US-based mobile advertising technology developer Supersonic.
Founded in 2010, IronSource operates a platform that distributes and monetises web and mobile apps. It closed a $105m funding round, in which Access reportedly invested $25m, in February this year at a reported $1bn valuation.
Supersonic is the creator of a mobile platform for video and native advertising. It had raised about $23m from 83North, SAIF Partners and angel investor Michael Van Swaaij, formerly the chairman of online communication company Skype.
The companies are joining forces to form a company that can provide a full range of mobile advertising and app monetisation services. Tomer Bar Zeev, IronSource’s chief executive, will act as CEO of the merged company.
Reports in July suggested IronSource would buy Supersonic outright for between $150m and $300m, but IronSource’s deputy CEO Omer Kaplan told TechCrunch yesterday the deal was conducted as a merger, and that the touted price was wrong in any case.
“It is definitely a merger because we are two companies joining forces to become the largest independent mobile distribution and monetisation company,” Kaplan said. “This is the first step in fulfilling that vision.”