Carey Olsen advises Tripledot Studios on US$800 million acquisition of AppLovin's games portfolio
Carey Olsen has advised London-based game developer Tripledot Studios ("Tripledot") on the acquisition of AppLovin's mobile gaming studio portfolio, for approximately US$800 million.
The deal will enable Tripledot to acquire 10 new studios and 2,500 employees, significantly expanding its operations in key strategic markets such as the US and Asia. The transaction values Tripledot at approximately US$2 billion, establishing the company as one of the world's top five independent mobile gaming companies by revenue.
US-based mobile technology and marketing platform AppLovin is selling its games portfolio as part of its strategy to focus on its growing mobile advertising business, and will take a US$400 million stake in Tripledot.
The Carey Olsen Cayman Islands corporate team advising on the transaction comprised partner Trevor McCabe and senior associate Evan Stitt, alongside onshore counsel Latham & Watkins LLP.
Trevor McCabe said: "The acquisition of AppLovin is a milestone achievement for Tripledot, which in recent years has gained recognition as one of the world's fastest growing mobile developers. We are proud to have supported on this significant step forward in Tripledot's global expansion and its move to become a global leader in the mobile gaming industry."
