PALO ALTO, Calif.–(BUSINESS WIRE)–AppLovin Corporation (NASDAQ: APP), a leading marketing platform, today announced it has reached a definitive agreement to acquire Wurl, a high-growth software platform in the Connected TV (CTV) market. The transaction is valued at approximately $430 million and is subject to customary closing conditions.
The acquisition will extend AppLovinโs software platform capabilities into the large and growing CTV market. In 2021, eMarketer projected that U.S. advertisers spent $14.4 billion on CTV, an increase of 60% compared to 2020, with ad spending projected to surpass $30 billion by 2025.1
โThe acquisition of Wurl will further our commitment to building and growing the worldโs largest, most-effective digital marketing platform by providing advertisers a seamless way to tap into the highly addressable and measurable CTV market,โ said Adam Foroughi, CEO and co-founder of AppLovin. โWe believe our software marketing expertise can further optimize the experience for advertisers and consumers as well as enable content companies to expand their audiences and increase monetization.โ
Wurlโs Global FAST Pass platform enables content companies including A+E Networks, AMC Networks, Scripps, and Bloomberg to distribute streaming video content to more than 300 million TVs and reach over 30 million users globally each month. Wurlโs distribution platform yields unique access to CTV ad inventory and data that can be harnessed to further develop its CTV performance advertising products โ Wurl AdPool and Wurl Perform. Wurl makes it effortless for content companies to build and track global distribution for branded linear channels, live events, and on-demand programming to manage and monetize their ad inventory.
โOur shared vision and values made the opportunity to join forces compelling and unique,โ said Sean Doherty Sr., CEO and co-founder of Wurl. โAppLovin brings enormous new demand from advertisers and our…