AppLovin Corporation , a leading marketing platform, announced it has completed the acquisition of Wurl, a world leader in powering streaming TV, for approximately $430 million in cash and stock. The acquisition extends AppLovin’s software platform capabilities into the Connected TV (CTV) market.

“We are excited to complete the acquisition of Wurl and provide advertisers with a seamless way to enter the rapidly growing CTV market,” said Adam Foroughi, CEO and co-founder of AppLovin. “This partnership will allow us to scale our technology beyond mobile with the goal of bringing performance marketing to the CTV market and becoming the world’s largest advertising ecosystem in the world.”

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“We are excited to complete the acquisition of Wurl and provide advertisers with a seamless way to enter the rapidly growing CTV market”

Wurl enables content companies to distribute streaming video content to more than 300 million TVs and reach 30 million users globally each month. Through its performance advertising products, they can manage and monetize ad inventory, and build and track global distribution for branded linear channels, live events, and on-demand programming.

“This is a pivotal moment in our company history and for Wurl customers,” said Sean Doherty Sr., CEO and co-founder of Wurl. “Combining with AppLovin will enable us to bring new advertising and marketing services to both CTV and mobile, while opening the door to many new opportunities for advertisers, content companies, and streamers alike.”

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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

Wilson Sonsini Goodrich & Rosati served as legal advisors for AppLovin, and Fenwick & West LLP acted as legal advisor for Wurl. LionTree Advisors acted as exclusive financial advisor to Wurl.