On October 6, 2021, Twitter, Inc. announced that it has entered into a definitive agreement to sell MoPub to AppLovin Corporation, a leading marketing software company, for $1.05 billion in cash. The transaction will enable Twitter to accelerate the development of owned and operated revenue products and drive growth across key areas for the service, including performance-based advertising, small and medium-sized business (SMB) offerings, and commerce initiatives. Twitter believes AppLovin is well positioned to grow and evolve MoPub’s network of customers in the rapidly changing in-app industry. Wilson Sonsini is advising Twitter on the transaction.

According to Twitter CEO Jack Dorsey, “This transaction increases our focus and demonstrates confidence in our revenue product roadmap, accelerating our ability to invest in the core products that position Twitter for long-term growth and best serve the public conversation. We thank the incredible teams and customers who have contributed to making MoPub a success within Twitter over the years.”

Under the terms of the agreement, Twitter will provide certain services to AppLovin for a period of time post-close to enable an orderly transition for publishers and advertisers. The transaction, which was unanimously approved by the Twitter board of directors, is expected to close in the coming months, subject to customary closing conditions, including receipt of regulatory approval.

The Wilson Sonsini team advising Twitter on the transaction includes:

M&A
Michael Russell
Ross Tanaka
Dennise Martinez

Corporate
Katie Martin
Lisa Stimmell

Technology Transactions
Adam Shevell
Barclay Oudersluys

IP Litigation
David Kramer

Employment Litigation
Jason Storck
Aren Balabanian

Employee Benefits
Sriram Krishnamurthy

Tax
Myra Sutanto Shen
Nika Antonikova

Privacy and Cybersecurity
Lydia Parnes
Matt Staples
Eddie Holman
Daniel Chen
Michael O’Brien

Antitrust and Competition
Ben Labow

For more information, please see Twitter’s press release.