Applovin announces the sale of its mobile gaming business
The mobile advertising company disclosed that it has agreed to sell its mobile gaming business to Tripledot Studios in a deal worth $400 million.
The Applovin company’s stock took a boost in after-hours trading following an announcement that the company will selling off its mobile gaming business segment to the tune of around $400 million in cash considerations. The buyer is Tripledot Studios, which has a busy mobile gaming market on the back of titles such as Sudoko Friends, Puzzletime and Solitaire Classic. The deal is expected to close by the end of the second quarter in 2025.
Applovin announced the details of its gaming segment sale in its Q1 2025 earnings results on its investor relations website this week. There, it shared further context about the agreed-to sale and its terms:
Applovin stock closed at around $303.46 per share when regular trading ended on May 7, but in after-trading, the price spiked at as high as $359.00 per share on its Q1 2025 earnings results and news of the deal. The group also announced in a separate blog that it would be pursuing a deal with ByteDance over TikTok, which has been facing a ban in the United States. It joins several groups that have had their eyes on US operations of the popular social media platform.
With Applovin selling off its gaming business and chasing after a deal with TikTok, it will likely continue to be a company worth watching in the months ahead. Stay tuned to our earnings topic for more news and earnings results from companies as they drop this season.
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replyTJ Denzer posted a new article, Applovin announces the sale of its mobile gaming business
