BUZZ-AppLovin up; report says co in talks to sell gaming unit in $900 mln deal

Reuters
05 Mar
BUZZ-AppLovin up; report says co in talks to sell gaming unit in $900 mln deal

** Shares of marketing platform AppLovin APP.O up 2.9% at $336.65 premarket

** APP is nearing a $900 mln deal to sell its games unit to mobile games developer Tripledot Studios, Business Insider reports citing four people with knowledge of the matter

** Deal is not yet finalized, and plans could still change - report

** AppLovin and Tripledot Studios did not immediately respond to Reuters' requests for comment

** Last month, two short sellers, Fuzzy Panda Research and Culper Research, disclosed short positions in AppLovin and alleged various concerns about co's business practices

** Up to last close, APP's shares had risen more than fivefold over the past 12 months

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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