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AppLovin scraps acquisition and takes debt financing instead

AppLovin scraps acquisition and takes debt financing instead
From TechCrunch - November 21, 2017

The story of AppLovins acquisition has taken another turn.

We first reported that the mobile ad startup was in acquisition talks in August of last year, and the announcement came a month later: AppLovin would sell a majority stake Chinese private equity firm Orient Hontai Capital.

Today, however, CEO Adam Foroughi revealed that the deal is (sort of) off. Instead of an outright acquisition, the firm will provide AppLovin with $841 million in debt financingthats on top of the 9.98 percent stake that Orient Hontai already acquired in January, thanks to a $140 million equity investment.

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