Duolingo Acquires Animation Studio Gunner For Undisclosed Sum - Duolingo (NASDAQ:DUOL)

Mobile learning platform Duolingo Inc DUOL has completed the acquisition of Gunner, a design and animation studio based in Detroit. The financial details of the transaction were not disclosed.
Gunner has been an animation and design partner for Duolingo since 2020.
Gunner produces art and animations that show up in Duolingo's flagship language app and early childhood literacy app, Duolingo ABC.
The acquisition will add fifteen new designers, illustrators, and animators to Duolingo's existing design teams.
The company held $591.2 million in cash and equivalents as of June 30, 2022.
"Art and animation are foundational to the Duolingo brand, and we use them to help make Duolingo a beloved daily habit in millions of learners' lives," said CEO Luis von Ahn.
Price Action: DUOL shares closed higher by 4.88% at $101.73 on Tuesday.