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Business Wire
2 days ago
- Business
- Business Wire
AppLovin Completes Sale of Mobile Gaming Business to Tripledot Studios
PALO ALTO, Calif.--(BUSINESS WIRE)--AppLovin Corporation (NASDAQ: APP) ("AppLovin"), a leading marketing platform, today announced the successful completion of the sale of its mobile gaming business to Tripledot Studios for $400.0 million in cash, subject to closing adjustments, and equity consideration representing approximately 20% of Tripledot's fully-diluted equity at the time of closing. No promissory note was issued as part of the transaction. The transaction, which was originally announced on May 7, 2025, closed June 30, 2025, following the satisfaction of all customary closing conditions and regulatory requirements. 'We would like to extend our gratitude to our game studios who were an instrumental part of AppLovin's journey,' said Adam Foroughi, Co-founder and CEO of AppLovin. Share 'We would like to extend our gratitude to our game studios who were an instrumental part of AppLovin's journey,' said Adam Foroughi, Co-founder and CEO of AppLovin. 'Their love for mobile games fueled our growth, and we wish them continued success with Tripledot Studios. The closing of this transaction streamlines the Company to its core business and allows us to fully focus on the exciting opportunities that will shape and define the future of our company.' Under the terms of the purchase agreement, AppLovin divested its mobile gaming business, including 10 game studios and their popular mobile gaming franchises, to Tripledot Studios. The gaming studios included in the transaction are Athena Studio, Belka Games, Clipwire Games, Leyi, Lion Studios, Machine Zone, Magic Tavern, PeopleFun, Zenlife Games, and Zeroo Gravity, which collectively develop popular mobile games across various genres including Hexa Sort, Wordscapes, Clockmaker, Cooking Madness, West Game, Project Makeover and others. Aream & Co acted as lead financial advisor, and GoodGame Advisors LLC and Belzberg Capital LLC also served as financial advisors to AppLovin. Wilson Sonsini Goodrich & Rosati acted as lead counsel, and Dissmann Orth, Wolff Schultze Kieferle, and Maples Group acted as local counsel to AppLovin. About AppLovin AppLovin makes technologies that help businesses of every size connect to their ideal customers. The company provides end-to-end software and AI solutions for businesses to reach, monetize and grow their global audiences. For more information about AppLovin, visit: Source: AppLovin Corp.
Time of India
09-05-2025
- Business
- Time of India
Game developer Tripledot acquires AppLovin's mobile gaming portfolio for $800 million
STOCKHOLM: London-based mobile game developer Tripledot Studios has agreed to buy marketing platform AppLovin 's mobile games studio portfolio for about $800 million in cash and stock, it said on Thursday. The deal will help Tripledot expand its footprint in markets including the United States and Asia, and add gaming titles such as Cash Tornado , Wordscapes and Wordle to its current portfolio of 25 live games, including Woodoku, Nut Sort and Triple Tile. AppLovin was among the companies submitting a bid for short video app TikTok's assets outside China, ahead of the deadline of April 5 that U.S. President Donald Trump set for a non-Chinese buyer. "Seven years ago, we began acquiring gaming studios to help train our earliest machine learning models," AppLovin CEO Adam Foroughi said in a statement. "However, we have never been a game developer at heart." The deal will add 10 gaming studios to Tripledot's portfolio and increase its presence into 17 more cities across North America, Europe and Asia, the companies said.
