Mobile marketing platform AppLovin has agreed to acquire Adjust, a mobile app measurement and marketing company, as the company looks to grow the mobile app ecosystem.

AppLovin intends to use its knowledge and expertise to help Adjust to further innovate its attribution and analytics product suite. However, Adjust will retain its brand and continue operating as a distinct company.

“We have worked closely with the Adjust team for years and we’re thrilled to have the opportunity to team up with them,” said Adam Foroughi, AppLovin Co-Founder and CEO. “Adjust’s product-first approach to the attribution and analytics space is comparable to how we built AppLovin, and exceptional combinations are born from similar objectives and culture. Together, we believe we will propel marketing tools innovation forward for mobile app developers globally.”

AppLovin and Adjust will also be launching the ‘Adjust Growth Scholarship’ with the goal of providing attribution and analytics tools, marketing, monetisation and product consultation, and funding to new mobile businesses.

Though the companies have not disclosed the terms of the acquisition, Bloomberg has reported that the deal values Adjust at around $1bn.

“Our focus has always been to help our customers succeed by offering the best solutions in the market. The traction we are seeing around the world is a testament to our team and our technology,” said Christian Henschel, Adjust Co-Founder and CEO. “Joining forces with AppLovin will further power our clients’ growth and shape the future of the app economy.”