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.