Latham & Watkins LLP advised CVC Capital Partners (CVC) funds on their acquisition of a minority stake in ironSource, a leading mobile marketing company based in Israel, for more than US$400 million. The investment will strengthen ironSource as it continues to grow in the mobile advertising and mobile gaming technology markets.
ironSource was founded in 2009 and is expected to finish 2019 with US$1 billion of revenue. Through its various technologies, the company works with customers including software, app and game developers, telecom operators, and mobile device OEMs. The company focuses on developing technologies for app monetization and distribution, with its core products targeting game developers.
Established in 1981, CVC is a world leader in private equity and credit with US$ 82.5 billion of assets under management, US$129 billion of funds committed and a global network of 24 local offices across Europe and the Americas and in the Asia Pacific region.
Latham & Watkins LLP advised CVC in the transaction, the cross-border team was led by Frankfurt private equity partner Oliver Felsenstein, with Frankfurt partner Dr. Leif U. Schrader, London partner James McCrory and New York associate Gilad Zohari. Frankfurt partner Tim Wybitul advised on data privacy and security matters, with Frankfurt associate Dr. Wolf-Tassilo Böhm and Washington, D.C. associate Alexander Stout. Singapore associate Esther Franks advised on technology matters and Washington, D.C. counsel Annie Froehlich advised on compliance matters.
The law firm Gornitzky & Co advised on Israeli law.
