AppLovin to Acquire Connected-TV Platform Wurl for $430 Million
variety.comTodd Spangler NY Digital EditorMobile marketing software company AppLovin is jumping into the connected-TV streaming video space with a deal to acquire Wurl for $430 million.With the acquisition, Wurl is expected to retain its brand and operate independently with its existing management team, led by Wurl co-founder and CEO Sean Doherty Sr.The deal, announced Monday, is expected to close in the first half of 2022 subject to customary closing conditions.
Of the $430 million price tag, 55% will be paid in cash and 45% will be funded through AppLovin stock.Wurl says it interconnects more than 1,200 free, ad-supported streaming channels with distribution services in over 50 countries, reaching over 30 million users on connected TVs worldwide.
The Wurl Network carries programming from partners including A+E Networks, AMC Networks, Bloomberg, BBC Studios, CNN, Reuters and Sony.
Distribution partners include Amazon IMDb TV, Roku, Samsung TV Plus, Rakuten, Twitch and Vizio. The deal comes after AppLovin acquired Twitter’s MoPub mobile app monetization division for $1.05 billion in cash last fall.
Read more on variety.com