Franklin Nova Group Provides Purchase Price Allocation Services to Duolingo

Acquisition of Animation Studio is One of Duolingo’s First as a Public Company
October 4, 2022

Duolingo, Inc. (Nasdaq: DUOL), the world’s leading mobile learning platform, announced today that it has completed the acquisition of Gunner, a design and animation studio based in Detroit. Duolingo uses animation in its learning apps to drive engagement, keep learners motivated, and build its globally recognized brand. Franklin Nova’s Valuation Advisory Practice, led by Franklin Nova founder Brian Sarkis, provided purchase price allocation services to Duolingo’s finance and business development teams throughout the acquisition process.

About Duolingo
Duolingo is the leading mobile learning platform globally. Its flagship app has organically become the world’s most popular way to learn languages and the top-grossing app in the Education category on both Google Play and the Apple App Store. With technology at the core of everything it does, Duolingo has consistently invested to provide learners a fun, engaging, and effective learning experience while remaining committed to its mission to develop the best education in the world and make it universally available.

About Gunner
Gunner is an illustration and animation studio based in Detroit, MI that strives to tell meaningful stories and create imagery that inspires (you).

About Franklin Nova Group
Headquartered in Pittsburgh, Franklin Nova Group is a boutique finance advisory firm respected for its valuation services to both public and private companies, and M&A and business advisory practices focused on mid-market companies, advisors and high net-worth individuals. For more information on the Franklin Nova Group, visit

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