Tripledot Studios has acquired AppLovin’s games portfolio for $800 million.

The deal means Tripledot will acquire 10 studios, helping it to ‘significantly expand its operations’ in key markets like the US and Asia.

The deal is half cash and half equity, with AppLovin becoming a minority shareholder of Tripledot Studios. Tripledot expects the deal to close in summer 2025, pending regulator approval.

Tripledot’s games will reach 25 million users daily following the acquisition. The company expects to reach annual gross revenues of almost $2 billion.

AppLovin announced its intention to offload its games operation back in February.

Studios joining Tripledot as part of the deal are Athena, Belka, Clipwire, Leyi, Lion Studios, Machine Zone, Magic Tavern, PeopleFun, Zen Life and Zero Gravity.

Back in April, following a round of 97 layoffs at AppLovin, one former employee intimated that “most of Machine Zone was shut down.”

“Our mission is to become the world’s most successful mobile game studio,” said Tripledot co-founder and CEO Lior Shiff. “Acquiring AppLovin’s games portfolio is a big step towards achieving that goal – taking us from being a high-performing challenger to a true global leader. It gives us additional scale, diversification and access to the best talent globally. We’re thrilled to welcome these incredible teams to Tripledot.”

AppLovin’s Adam Foroughi said the company had “never been a game developer at heart” in a statement announcing the deal. “Lior and his team are some of the best operators in the business and give me incredible confidence they are the right partner to help these studios thrive going forward.”

Diversification is a key strength of the acquisition, according to Tripledot: no single game in its portfolio will generate more than 10% of its revenue following the acquisition.