Prepared by our partner Investgame, cheers! US-based mobile gaming and ad tech company AppLovin (NASDAQ: APP) has signed a term sheet to sell its entire mobile gaming division for $900m to an undisclosed private company, according to an SEC filing. The consideration will be $900m, paid in $500m in cash and $400m in common shares of the acquirer. To finance the cash portion, the acquirer will borrow up to $250m, and if it fails to secure such funding, AppLovin will provide financing through promissory notes. The mobile gaming division comprises 10 studios, including Machine Zone, PeopleFun, Magic Tavern, Lion Studios, Belka, Athena, Clipwire, Leyi, ZenLife, and Zero Gravity. Deal multiples (based on 2024 Apps Segment Financials) are shown in the table below, calculated using adjusted EBITDA, which excludes stock-based compensation and restructuring costs and may exclude some central group costs. […]