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AppLovin Proposes Combination With Videogame Software Maker Unity

AppLovin said the deal values Unity at $58.85 a share, an 18% premium to Monday’s closing price.Photo: Pavlo Gonchar/Zuma Press

AppLovin on Tuesday submitted a proposal to merge with Unity Software in an all-stock deal that values the videogame software company at about $20 billion.

The stock deal would exchange each share outstanding of Unity common stock for 1.152 of AppLovin Class A voting stock and 0.314 of its Class C nonvoting stock. AppLovin said the deal values Unity at $58.85 a share, an 18% premium to Monday’s closing price.

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