Affle to acquire 8 pc stake in Indus OS for $2.86 million
San Francisco, 3rd July 2020: Mobile advertising company Affle said it will acquire 8 percent stake in smartphone operating system firm Indus OS.
"Affle (India) Ltd through its subsidiaries announced the signing of a definitive agreement to acquire 8 percent ownership in OSLabs Pte Ltd, Singapore, (Indus OS). Indus OS operates India's largest independent indigenous app store, with key investment from Samsung Venture Investment Corporation," Affle said in a statement.
According to a regulatory filing, Affle will pay USD 2.86 million or about Rs 21 crore to Indus OS for the stake.
"We derive significant synergies with the Indus App Bazaar which, through its multi-lingual capabilities, deeply enhances our vernacular scale and the verticalisation strategy.
"It strengthens Affle's p...
