AppLovin has confirmed the sale of its 10 game studios to UK outfit Tripledot.
Tripledot paid $400m for the studios with AppLovin acquiring a 20% ownership stake in Tripledot common equity.
The deal is expected to close within the next quarter, at which point Tripledot takes ownership of 10 studios: Machine Zone, PeopleFun, Magic Tavern, Lion Studios, Belka, Athena, Clipwire, Leyi, Zenlife and Zero Gravity.
[Update: The Financial Times reports that AppLovin’s 20% stake is worth $400m, bringing the total value of the deal to $800m. It means Tripledot is now valued at $2bn.]
As we reported in February, AppLovin announced it would be offloading its game studios in the earnings call following a blowout Q4.
It led to plenty of speculation around who the buyer might be – with many assuming that Scopely was poised to swoop for the firm given parent company Savvy Gaming Group’s $38bn M&A warchest.
We had heard rumblings from our own sources that the buyer was Tripledot, but we could not verify any of the claims we’d heard before Business Insider got the scoop.
Back in 2022, Tripledot told us it had $116m to spend on M&A. “We like the idea of taking a great game or concept, helping it to scale and turning it into a great business,” Tripledot CEO Lior Shiff told us at the time. “We’re looking at different sizes for acquisitions, different scales, including larger ones.”
The Tripledot deal was announced as part of yet another blockbuster quarter for the adtech giant.
AppLovin’s revenue for the quarter ended March 31 2025 was $1.4bn, up 40% year-on-year. Ad revenue was $1.16bn (up 71% YoY), and apps revenue was $325m (down 14% YoY). Adjusted EBITDA was $1bn, up 83% YoY.
The company also outlined a little more of the reasoning behind its ambitious bid for TikTok, with CEO Adam Foroughi stating his case for a merger with TikTok Global, the entity responsible for all activity outside of China. Foroughi said AppLovin’s case for a merger was based on pledges around security, youth safety and its potential benefits to the US economy.
