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Tripledot Studios Acquires AppLovin’s Entire Games Business in $800 Million Deal


Tripledot Studios Acquires AppLovin

UK-based Tripledot Studios has announced its acquisition of AppLovin's entire games division in a blockbuster deal valued at $800 million.


The transaction is expected to finalize by early summer 2025.


What’s in the Deal?


The acquisition includes a $400 million cash payment—split into $150 million upfront and a $250 million promissory note issued by Tripledot subsidiary Eton Games Inc. 


The remaining $400 million of the deal value comes from AppLovin receiving a 20% equity stake in Tripledot. Despite this ownership, AppLovin will have no board representation or control over Tripledot’s operations.


The deal brings 10 high-profile studios under Tripledot’s wing, including:


  • Machine Zone (Game of War)

  • PeopleFun (Wordscapes)

  • Magic Tavern

  • Lion Studios

  • Belka Games

  • Clipwire Games

  • Athena Studio

  • Leyi

  • ZenLife

  • Zeroo Gravity


This adds significant development muscle and IP depth to Tripledot’s existing portfolio, which includes popular titles like Woodoku, Solitaire, and Triple Tile.


A Giant Leap for Tripledot


Tripledot CEO Lior Shiff sees the acquisition as transformational:

“This turns us from a high-performing challenger to a true global leader.”

With the expansion, Tripledot will grow to 12 studios across 23 cities and employ around 2,500 people worldwide. The newly combined entity is expected to:

  • Serve 25 million daily active users

  • Generate nearly $2 billion in annual gross revenue


No Layoffs, Just Growth


Importantly, Shiff emphasized that this deal isn’t about slashing costs:

“We’re probably more in hiring mode than firing mode.”

He added that AppLovin had "already" downsized its gaming division from 20 to 10 studios, so most of the heavy lifting had been done beforehand.


Strategic Shift for AppLovin


The move marks a major strategic pivot for AppLovin, which now aims to focus entirely on its ad tech business. CEO Adam Foroughi explained that their studio acquisitions initially served as a testing ground for machine learning models.

“We’ve never been a game developer at heart.”

 He expressed full confidence in Tripledot’s ability to nurture the studios:

“Lior and his team are some of the best operators in the business.”

Mobile-Only Focus, For Now


While many gaming companies eye expansion into PC or console markets, Tripledot remains committed to mobile gaming. Shiff noted that the acquired studios will maintain their creative independence, preserving the diversity of game styles and approaches.


A key benefit of the acquisition is diversification: no single game will account for more than 10% of total revenue, a strategic advantage in an often volatile market.


What’s Next?


Tripledot isn’t done yet. Shiff says the company continues to explore additional acquisitions, especially in genres like sports, action, and racing.


With this mega-deal, Tripledot Studios has positioned itself as one of the top global players in mobile gaming, setting the stage for further growth, innovation, and possibly a public offering in the near future.


Sources: Mobilegamer, FT


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