By Jonathan Easton

Marketing platform AppLovin has announced the acquisition of CTV software platform Wurl.

The deal is valued at approximately US$430 million, and will extend AppLovin’s capabilities into the CTV market.

Wurl operates its Global FAST Pass platform, with content partners including A+E Networks, AMC Networks, Scripps, and Bloomberg. For these companies and others, Wurl distributes streaming video content to more than 300 million TVs and reaches over 30 million users globally each month.

The deal will see Wurl retain its branding and it will continue to operate independently with its existing management team. The acquisition is expected to close in H1 2022, and will be funded with approximately 55 per cent cash and 45 per cent AppLovin equity.

CEO and co-founder of AppLovin, Adam Foroughi said: “The acquisition of Wurl will further our commitment to building and growing the world’s largest, most-effective digital marketing platform by providing advertisers a seamless way to tap into the highly addressable and measurable CTV market. We believe our software marketing expertise can further optimise the experience for advertisers and consumers as well as enable content companies to expand their audiences and increase monetisation.”

CEO and co-founder of Wurl, Sean Doherty Sr., said: “Our shared vision and values made the opportunity to join forces compelling and unique. AppLovin brings enormous new demand from advertisers and our partnership will enable current customers to realise even more benefits including expanded ad revenue, new viewers, and enhanced distribution to global CTV audiences. Together, we’ll pursue our mission and dramatically impact the CTV market.”https://www.digitaltveurope.com