AppLovin to Acquire Connected-TV Platform Wurl for $430 Million
Todd 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.