Israeli ad-tech firm IronSource plans IPO for H1 next year - newspaper

JERUSALEM, Nov 9 (Reuters) - Advertising technology firm IronSource, one of Israel’s most valuable private tech companies, plans an initial share offering on Nasdaq in the first half of 2021, the Calcalist financial daily reported on Monday, citing unidentified sources.

It said IronSource is targeting a valuation of between $7 billion and $8 billion and that Goldman Sachs is expected to be the underwriter. Such an offering could become the largest ever by an Israeli company on Nasdaq.

IronSource, founded in 2010, declined to comment.

Last October, British private equity firm CVC bought a minority stake in IronSource for more than $400 million. Calcalist said CVC’s investment amounted to a nearly 26% stake and valued the company at $1.75 billion.

In April 2019, co-founder and Chief Revenue Officer Omer Kaplan told Reuters that IronSource was ready to go public but was unsure of the timing of an initial public offering (IPO). At the time he projected 2019 revenue of about $900 million.

IronSource provides developers a platform to acquire users and display ads within mobile phone games and has said its strategic decision of recent years to focus on the mobile gaming industry had paid off. (Reporting by Steven Scheer; Editing by Mark Potter)