What happens with regard to third party apps during an LTS -> LTS upgrade?

Welcome to the forum @Neil_Klagge

When you upgrade to 18.04, anything that you have installed through the Software Boutique, or from the repositories by other means, will be upgraded as well. If you have downloaded and installed software from another source (a web page for example), then you may have to manually install a newer version. This depends largely on how it was installed though. For example, some PPA's keep themselves updated by adding their repositories to your system.

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It is always a good idea to search the forum for the answer your seeking, before asking questions. Hope you enjoy your stay here.