- 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.
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