Israeli mobile advertising technology firm ironSource recently went public on the New York Stock Exchange. This comes following the organization’s merger with a blank-check company that was backed by the Thoma Bravo private equity firm.
“Today marks an important step for IronSource as a leading platform for global app and game developers, and we are excited to enter the public markets and continue to advance our platform and our vision for the company and the app economy,” said company CEO Tomer Bar Zeev in a statement. “We are proud to achieve this milestone, which is a testament to the strength of our platform, and we look forward to our future as a public company. I am grateful to the IronSource team for all their hard work, which has brought us to this pivotal moment, and for the unparalleled support of our partner Thoma Bravo Advantage.”
When the deal was announced back in March, the special purpose acquisition company (SPAC) gave ironSource a valuation of $11.1 billion. VentureBeat said that this deal was driven by the increasing popularity of mobile games and apps.
ironSource Ltd began trading on the New York Stock Exchange on June 29th under the ticker symbol “IS”. As of 2:50 PM EST on July 8th, one share of stock in the company is worth $10.46.