CVC to invest over $400 million in Israel's IronSource

JERUSALEM (Reuters) - British private equity firm CVC will buy a minority stake in Israeli advertising technology firm IronSource for more than $400 million, IronSource said on Tuesday.

IronSource, in its statement, did not say what percentage stake CVC would own, or what the deal would value the whole company.

IronSource develops technologies for app monetization and distribution, with its core products targeting game developers. It said it was on track to finish 2019 with about $1 billion in revenue.

Israel’s Calcalist financial newspaper on Wednesday reported a deal was imminent and that it valued IronSource at $1.55 billion.

Reporting by Ari Rabinovitch; Editing by Mark Potter