AppLovin to acquire mobile app measurement provider Adjust

AppLovin Corp. said Feb. 3 that it agreed to acquire adjust GmbH, a global mobile app measurement and marketing company.

While the transaction's terms were not disclosed, a source told Bloomberg News that the deal values Berlin-based Adjust at close to $1 billion.

U.S. mobile app and gaming company AppLovin expects the deal to help expand the mobile app ecosystem, while helping Adjust improve its attribution and analytics product suite.

The transaction's completion is subject to customary stockholder and regulatory approvals. Adjust will continue operating as an independent company while retaining its brand and culture.

AppLovin and Adjust will also launch the Adjust Growth Scholarship, a program that will provide attribution and analytics tools, marketing, monetization and product consultation, and funding support to new mobile businesses and their developers. The companies will provide further details on the project after deal closing.

AppLovin tapped Fenwick & West LLP as legal adviser on the deal, with Citi as exclusive financial adviser. Adjust's legal advisers are Noerr and Paul Weiss Rifkind Wharton & Garrison LLP.

Sources earlier said a J.P. Morgan-led arranger group will launch a $300 million add-on term loan B for AppLovin, which will be used for acquisition financing and general corporate purposes.

The Bloomberg News source also said AppLovin has filed confidentially to go public in 2021.