Simpson Thacher is representing Silver Lake in connection with its role as the lead investor in $1 billion of 2% convertible notes to be issued by Unity Software, Inc. (“Unity”). Silver Lake’s investment is part of larger transaction that will see Unity merge with ironSource Ltd. (“ironSource”) in an all-stock deal whereby ironSource is being valued at $4.4 billion. Silver Lake’s investment is expected to be consummated at the closing of such merger transaction.
Unity is the world’s leading platform for creating and operating interactive, real-time 3D content for mobile and gaming consoles. ironSource is a leading business platform used by mobile app developers to grow and engage users, monetize content and optimize business performance. The end-to-end platform synergy resulting from the merger of the two companies will enhance Unity’s offerings for app creators of all sizes.
The Simpson Thacher team includes Atif Azher, Mark Myott, Christian Segar and Mariel McClenahan (M&A); Kenneth Wallach, Hui Lin, Sunny Cheong, Sean Dougherty and Patrick Meson (Capital Markets); Jennifer Nadborny (Public Company Advisory Practice); Mimi Cheng (Banking and Credit); Jon Lindabury (Derivatives); Lori Lesser and Jessica Cohen (Intellectual Property and Data Privacy); Tristan Brown, Harry Hudesman and Allison Sutherland (ECEB); Russell Light and Edward Grais (Tax); Jordan Cross and Demetrius Baefsky (Private Funds); and Peter Guryan and Joshua Hazan (Antitrust). Summer associate Dina Stumpf provided valuable assistance.