Tripledot Studios Acquires AppLovin's Gaming Portfolio for $800 Million
Deal News | May 16, 2025 | Carey Olsen
Tripledot Studios has secured a significant acquisition, purchasing AppLovin's gaming portfolio for $800 million, an action that bolsters its strategic position in the mobile gaming sector. The acquisition allows Tripledot to integrate 10 new studios and 2,500 employees into its operations, increasing its impact in the US and Asia. This transaction catapults Tripledot's valuation to approximately $2 billion, positioning it among the world's top five independent mobile gaming companies by revenue. AppLovin, based in the US, opts to divest its gaming portfolio to focus on its mobile advertising business, maintaining a $400 million stake in Tripledot. The deal's compliance and advisory support were provided by the Carey Olsen Cayman Islands team, including Trevor McCabe and Evan Stitt, in coordination with Latham & Watkins LLP.
Sectors
- Mobile Gaming
- Technology
Geography
- United States – Tripledot's acquisition of AppLovin's portfolio is partly focused on expanding operations in the US.
- Asia – The acquisition strategy of Tripledot includes expanding its presence in Asia.
Industry
- Mobile Gaming – The acquisition is directly related to the mobile gaming industry as Tripledot Studios expands its portfolio in this sector.
- Technology – AppLovin is a mobile technology and marketing platform, indicating the technological focus of the transaction.
Financials
- $800 million – The deal value for Tripledot Studios' acquisition of AppLovin’s games portfolio.
- $2 billion – The valuation of Tripledot Studios post-acquisition.
- $400 million – The equity stake AppLovin retains in Tripledot Studios post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tripledot Studios | Buyer | Company | An independent mobile gaming company acquiring AppLovin's games portfolio. |
| AppLovin | Vendor | Company | A US-based mobile technology and marketing platform company selling its game portfolio. |
| Carey Olsen | Legal Advisor | Company | The law firm advising Tripledot on the acquisition. |
| Latham & Watkins LLP | Onshore Counsel | Company | The onshore counsel supporting Carey Olsen on the transaction. |
| Trevor McCabe | Partner | Person | A partner at Carey Olsen's Cayman Islands corporate team involved in the transaction. |
| Evan Stitt | Senior Associate | Person | A senior associate at Carey Olsen's Cayman Islands corporate team involved in the transaction. |