Twitter has confirmed that it will sell mobile ad unit MoPub for $1 billion

Twitter Inc. has agreed to sell mobile ad company MoPub to AppLovin Corp. for $1.05 billion in cash.

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MoPub, which earned roughly $188 million in yearly revenue for Twitter last year, enables businesses to track ad inventory in real-time.

The sale will allow Twitter to invest in “the core products that position it for long-term growth,” Twitter Chief Executive Officer Jack Dorsey said on Wednesday.

“The sale of MoPub positions us to concentrate more of our efforts on the massive potential for ads on our website and in our apps,” Twitter Chief Financial Officer Ned Segal said.

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