GCA Altium co-advises CVC on its partnership with ironSource
Profitable from almost day one, ironSource has grown rapidly since its founding in 2009 and is on track to finish 2019 with approximately USD 1bn of revenue. Through its various technologies, the company works with a unique combination of customers including software, app and game developers, telecom 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 USD 180bn 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 solution for mobile carriers and device manufacturers. Aura provides a dynamic engagement and content distribution solution, empowering OEMs and telecoms 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 telecoms 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."