CVC said to near IronSource stake purchase to value firm at $1.55bn

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CVC Capital Partners is reportedly nearing a $450m deal to buy a 25 per cent stake in Israeli digital advertising tech provider IronSource.

The deal values IronSource at about $1.55bn according to Israeli business newspaper Calcalist, which cited two unnamed sources it said were familiar with the matter.

It added that a deal could be completed within the next 24 hours.

IronSource, which was founded in 2009, has previously received investment from Carmel Ventures and Saban Ventures.

The company initially specialised in download optimisation software, but pivoted to digital advertising from 2013, specifically mobile ads for use by game developers.

Calcalist said the CVC sale is expected to be the last funding IronSource raises before its initial public offering, scheduled for the second half of 2020.

Last week CVC sealed the second deal from its €4.6bn Strategic Opportunities II fund by picking up Fonterra’s 50 per cent stake in DFE Pharma.

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