Unity Software agreed to buy ironSource Ltd., in a $4.4 billion, all-stock deal, joining forces with the Israeli mobile-app and ad-tech company as the broader tech industry faces a slowdown in digital advertising.
The transaction, announced Wednesday, combines two providers of services for videogame and other software developers. It comes amid a rout in technology stocks and a series of layoff announcements and hiring freezes in the industry tied in part to a slowdown in digital advertising sales. Last month Unity laid off about 4% of its workforce, saying the move served as a way to better match the size of its staff with its needs.