Iron Source on The Way to Wall Street at A Value of $ 10 Billion
According to Bloomberg, the American investment fund Thomas Bravo is in negotiations with the Israeli high-tech company for a merger through Spock. Thomas Bravo previously acquired Impreva and is considered one of the largest active investment funds in the world in the field of technology.
The American investment fund Thoma Bravo is in negotiations with the Israeli company Iron Source for an IPO worth $ 10 billion, according to Bloomberg. Thomas Bravo previously acquired Shlomo Kramer’s Improva Company and is considered one of the largest and most active investment funds in the world in the field of technology. In November, Calcalist unveiled the company’s intention to issue during 2021. Today, Calcalist revealed that the fintech company Ituro is also on its way to an issue via Spack worth an estimated $ 10 billion.
According to the Bloomberg report, the merged company is expected to raise about $ 1 billion and trade at a value of about $ 10 billion. If the company does issue at the value in question, it will be a huge jump for the company. In November 2019, the CVC investment fund entered the company with an investment of $ 450 million for 25.7% of its shares, ie at a value of $ 1.75 billion. Iron Source was established in 2011 and until the raising of CVC, the company raised $ 120 million over the years. Iron Source operates in the AdTech (advertising technology) industry and has two main lines of activity: digital and mobile.
The main shareholders in the company except CVC, the founders Tomer Bar-Ze’ev and the three brothers Mylard, the Viola Ventures Fund, Haim Saban, Len Belvatnik, Claltech (the first significant investment), a disruptive of Tal Barnuah, Reuven Adler and Eyal Chomsky, Allied of Itzik Suari, and Leumi Partners. The company employs about 1,000 people.
The mobile sector began to be developed by Iron Source several years ago. Developers, including gaming companies, are embedding the company’s technology in tens of thousands of applications to present targeted advertising to customers. Profit from this field has increased significantly and over the years has become the company’s main source of profit.
Iron Source has also grown organically, but also through mergers and acquisitions it has made, mainly of Israeli companies in the field of the Internet. Merger’s biggest deal was with the Israeli Supersonic. The deal reflected a value of $ 1.3-1.2 billion for the merged company, according to industry estimates. The deal in 2015 was about $ 50 million in cash and about $ 150 million in Iron Source shares received by Super Sonic shareholders. 250 Supersonic employees joined Iron Source, and the merger created the largest independent Internet company in Israel in terms of employees, value and revenue. Iron Source currently employs 1,000 people, 800 of them in Israel, and about half of them are engaged in research and development.
In 2011, Iron Source merged with Volunt, and as part of the merger, the companies Dilplay, Click Me-In and Montre were also acquired, which were held at various rates before the merger by Volunt. In 2013, it acquired After Download. In June 2016, Iron Source acquired the advertising technology company in the Israeli video stream-rail.