: Unity Software stock rises on report of possible China spinoff

Unity Software Inc. U shares rose Tuesday following a report the gaming-engine company may spin off its business unit in China to expand. Unity shares rose as much as 5% after Reuters reported that Unity was in talks to spin off its China unit to expand into that market, according to four unidentified sources. Shares fell in early July after Unity said it offered to buy IronSource Ltd. for $4.4 billion, following a large decline in May, when the company revealed a workaround to Apple Inc.’s AAPL opt-out of using Identifier for Advertisers inadvertently sabotaged its own ad-targeting tools. Unity shares are down 61% over the past 12 months, compared with a 6% decline in the S&P 500 index SPX.

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