That's according to sources familiar with the deal, as reported by Bloomberg. Representatives from both AppLovin and Adjust have declined to comment on the acquisition.
The deal is not the first for the Californian company. In May last year, AppLovin invested an undisclosed amount in Supercell-back developer Redemption Games, as well as announcing the acquisition of Game of War dev Machine Zone, also for an undisclosed sum. In 2018, AppLovin made its first foray into the publishing space after setting up Lion Studios.
AppLovin also made an appearance at the 20th entry on the PocketGamer.biz Top 50 Mobile Game Makers List 2020.
A worthy investment
Adjust has enjoyed steady growth over the last couple of years. The company made a series of hires in 2020; including a new global director of agency partnerships and head of enterprise sales, US. Adjust also recently appointed a new CPO and CRO back in November.
The company has also formed strong partnerships with industry giants, exactly one year ago it teamed up with Unity to become the company's first mobile measurement partner, before going on to join the Adobe Exchange Partner Program later in the year.