Twitter has sold mobile ad company MoPub to AppLovin Corp. for $1.05 billion in cash.
According to Arabiya Net, Twitter is looking to focus more on ads on its app and website.
MoPub, which generated about $188 million in annual revenue for Twitter last year, allows companies to track ad inventory in real time, similar to Google's DoubleClick.
Twitter CFO Ned Segal said the sale of MoPub makes us focus more of our efforts on the huge potential of ads on our website and in our apps.
Twitter said Wednesday that it will focus on its core business by accelerating the development of new products and features to meet its goal of doubling its revenue in 2023 to $7.5 billion.
The MoPub deal comes months after Apple updated its mobile operating system that powers iPhones and iPads to make it harder for digital advertisers, including media platforms, to Social and mobile game developers track users on Apple mobile devices.
For his part, Twitter CEO Jack Dorsey confirmed Wednesday that the sale will allow Twitter to invest in core products that make it viable for long-term growth.
Twitter bought MoPub for approximately $350 million in 2013.
The second party to the deal, AppLovin went public as recently as April, and is a mobile gaming company with a portfolio of more than 200 free-to-play mobile games, such as Word Connect and Slap Kings and Bingo Story.
