Affle (India) Ltd, a mobile commerce and marketing solutions provider, has signed definitive agreements to acquire Appnext Pte. Ltd and Appnext app discovery and recommendation platform for $17.25 million. The acquisition of the Singapore-based company and its platform are with immediate effect.
Affle will initially acquire 66.67 per cent equity ownership in Appnext Singapore, with a clear path to acquire 100 per cent equity ownership upon attainment of mutually agreed growth targets, the company said in a statement.
“Affle 2.0 will focus on building sustainable market leadership in India as well as enhancing our competitive advantage globally through our technology innovations. The Appnext platform transforms ads into app recommendations as a service for consumers and thus strengthens our CPCU business model by enabling greater ROI for advertisers,” Anuj Khanna Sohum, Chairman, MD and CEO at Affle said.
Appnext’s app discovery and recommendation platform enables mobile handset manufacturers and apps developers to deliver personalised app recommendations to mobile users globally.
Using its ‘Timeline’ technology, Appnext predicts which apps the users are likely to use next. With 300 million daily active users, more than 20 on-device daily interactions through strategic OEM partnerships and 60,000 apps, Appnext is the leading independent app recommendation platform delivering over 4 billion app recommendations per day.
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