Orient Hontai Capital cancelled the acquisition of majority stake in AppLovin Corporation from Webb Investment Network, Eduardo Vivas and John Burbank.
November 20, 2017
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Orient Hontai Capital entered into a definitive agreement to acquire a majority stake in AppLovin Corporation from Webb Investment Network, Eduardo Vivas and John Burbank for $1.4 billion on September 26, 2016. Post the transaction, AppLovin will continue its standard operations, maintaining its corporate headquarters in Palo Alto, California and servicing its customers globally. AppLovin will retain its talented team of approximately 100 employees, including founding team members: Tariq Ahmed, Omer Hasan, Mark Rosner, Robert Russo, Basil Shikin and Rafael Vivas. The transaction is subject to regulatory approvals and expected to close in the fourth quarter of 2016. CVCapital acted as a financial advisor to AppLovin Corporation. Citi Orient Securities Company Ltd. acted as a financial advisor to Orient Hontai Capital. Kris Withrow, Ken Myers, Michael Esquivel, Ryan Slunaker, Jordan Roberts, Shen Zhang, Shawn Lampron, Mona Clee, Marshall Mort, Sean Childers, Elizabeth Chang, Mark Ostrau, Ashley Walter, Jonathan Millard, Ana Razmazma, Will Skinner and Michael Knobler of Fenwick & West LLP acted as legal advisors to AppLovin Corporation. Wilson Sonsini Goodrich & Rosati, Professional Corporation acted as a legal advisor to Orient Hontai Capital.
Orient Hontai Capital cancelled the acquisition of majority stake in AppLovin Corporation from Webb Investment Network, Eduardo Vivas and John Burbank on November 21, 2017. The transaction has been called off because it has not received the approval from Committee on Foreign Investment in the United States (CFIUS). However, AppLovin had accepted an $841 million debt investment from Orient Hontai Capital and has also completed a 9.98% investment in AppLovin for $140 million in January 2017.
AppLovin Corporation provides application technology platform, AppLovin. The Company operates through two segments: Software Platform, and Apps. Its Software Platform is primarily made up of four key solutions, such as AppDiscovery, MAX, Adjust, and Wurl. AppDiscovery is powered by AXON, its AI-powered advertising engine, and matches advertiser demand with publisher supply through auctions at vast scale and at microsecond-level speeds. MAX is a monetization solution, utilizing an advanced in-app bidding technology that optimizes the value of a publishers advertising inventory by running a real-time competitive auction. Adjust is a measurement and analytics marketing platform which provides marketers with the visibility, insights, and data needed to scale their apps marketing results. Wurl is connected TV (CTV) platform that both distributes streaming video for content companies and provides advanced advertising and publishing solutions to attract viewers and maximize revenue.
Orient Hontai Capital cancelled the acquisition of majority stake in AppLovin Corporation from Webb Investment Network, Eduardo Vivas and John Burbank.