AppLovin is set to sell its games division to Tripledot Studios for $900 million, shifting its focus entirely to advertising. This move comes after its stock surged over 400% in a year, boosting its market value to over $100 billion. While traditionally associated with mobile gaming, AppLovin aims to prioritize advertising over game development, with plans to exit this sector through the sale. Despite a year-over-year revenue increase of 44%, its app revenue experienced a slight decline. The deal is in progress but not yet finalized, according to sources familiar with the matter.
AppLovin is nearing a $900 million deal to sell its games unit to Tripledot Studios, as it exits game development to focus on advertising.
With shares up over 400% in the past year, AppLovin aims to concentrate on advertising rather than game development, which it states it was never 'at heart'.
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