AppLovin agreed in May 2025 to sell its mobile gaming business to Tripledot for $400 million in cash consideration and about 20% of Tripledot's equity

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On May 7, 2025, AppLovin and its subsidiaries Morocco, Inc. and AppLovin GmbH entered into a purchase agreement with Tripledot and its subsidiaries Eton Games Inc. and Tripledot Group Holdings Limited. Under it, AppLovin and its subsidiaries that signed agreed to transfer the equity interests of certain wholly owned subsidiaries engaged in AppLovin's mobile gaming business to Tripledot and its subsidiaries, for $400 million in cash consideration and a stake of about 20% in Tripledot. AppLovin disclosed the agreement in a Form 8-K, the report a US public company files when a material event occurs, under item 1.01, entry into a material definitive agreement.1^,2^,3^,4^,5^,6^,7

The $400 million was to be $150 million in cash at closing and a $250 million secured promissory note, a written promise to repay that is backed by collateral, which Eton Games Inc. was to issue at closing to AppLovin or an affiliate. The note was to mature 18 months after closing, with no amortization, and to bear interest at 11% a year. The price also included shares of Tripledot representing about 20% of its fully diluted equity at closing. The earnings release added that the sale was subject to customary purchase price adjustments. Tripledot expected to finance part of the cash due at closing with debt.4^,8^,9^,10^,5^,11^,12

AppLovin’s earnings release, filed with the 8-K, reported Apps revenue of $325 million for the quarter ended Mar 31, 2025, against $380 million a year earlier. It said that, because of the pending sale of its Apps business, the company was no longer providing guidance for its Apps segment. AppLovin was to provide Tripledot with certain transition services for up to six months after closing.13^,14^,15^,16

The 8-K said the transaction was expected to close in the second quarter of 2025, subject to conditions that included expiry of the Hart-Scott-Rodino antitrust waiting period. Either side could end the agreement if closing had not occurred before 11:59 p.m. Pacific time on Nov 3, 2025. The 8-K said both boards unanimously approved the agreement, and that Tripledot's shareholders approved it at an extraordinary meeting held on May 7, 2025.17^,18^,19^,20

Our records hold the text of the 8-K and its earnings release, not the purchase agreement attached to it as an exhibit, and a filing older than our collector's window is not stored, so earlier steps of the deal may be missing from our records.21^,22