Twitter has sold ad platform MoPub to mobile firm AppLovin for $1.05 billion in cash.
As part of the acquisition, AppLovin intends to integrate key features of MoPub into its existing services.
"We are excited by the opportunity to grow the AppLovin platform and further enhance our publisher monetisation tools through this strategic transaction," said AppLovin co-founder and CEO Adam Foroughi. "We welcome the MoPub team and together we will work diligently to combine the best of MoPub into the AppLovin software platform."
Twitter CEO Jack Dorsey added: "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."
The social network originally acquired MoPub, which provides app monetisation solutions, for around $350 million back in 2013. In 2020 alone, MoPub generated over $188 million in revenue for Twitter.
The deal is expected to close in the next few months, subject to customary closing conditions.
AppLovin also helps developers monetise games, but also owns 12 studios with a portfolio of over 200 games, which includes Wordscapes developer Peoplefun, and Game of War developer MachineZone.
The company went public earlier this year, raising $1.8 billion in an Initial Public Offering. The company sold 22.5 million shares, priced at $80 each.