AppLovin, a game developer, announced that it had given up trying to acquire Unity.
AppLovin announced on Monday that it will not make another acquisition attempt for Unity after the $20 billion offer was rejected by shareholders last month.
According to the company, after giving the matter due thought, “AppLovin judged that its path as the independent market leader is best for its stockholders and other stakeholders.”
Early in August, AppLovin made a purchase offer for Unity at a price of $58.85 per share, a premium of roughly 18% over the previous day’s closing price.

Instead of accepting the offer, Unity urged shareholders to approve its own $4.4 billion proposed acquisition of mobile advertising technology company IronSource, which was reached in July. Unity’s response was that the deal was “not in the best interests of Unity shareholders.”

Unity would have been forced to renounce the IronSource agreement under AppLovin’s plan. John Riccitiello, the CEO of Unity, would now be in that position after the merger.
In the release, CEO Adam Foroughi expressed his excitement about the long-term development potential of both AppLovin and our core markets. Our seasoned and committed staff will keep concentrating on what we can control, such as making constant advancements in our technology and products and entering more recent, high-growth areas.