Campaign India Team
Jul 02, 2020

Affle acquires 8% stake in Singapore-based OSLabs

The deal worth Rs 21 crore should be completed by 25 July

Affle acquires 8% stake in Singapore-based OSLabs
Affle India has announced that it has signed an agreement to acquire eight per cent ownership in Singapore-based OSLabs. OSLabs operates Indus OS, an independent apps store, with key investment from Samsung Venture Investment Corporation.
 
Indus OS’ - 'Indus App Bazaar' has more than 4,00,000 apps accessible in English and 12 Indian languages and is the default app store for all Samsung devices in India. 
 
The acquisition worth Rs 21 crore (USD 2.86 million) should be completed by 25 July.
 
Anuj Khanna Sohum, chairman, MD and CEO, Affle, said, “We are excited to announce our strategic investment in Indus OS. This investment reaffirms our commitment to Affle2.0 growth strategy and building a sustainable market leadership. We derive significant synergies with the Indus OS App Bazaar which through its multi-lingual capabilities, deeply enhances our vernacular scale and the verticalisation strategy. It strengthens Affle’s position as the enabling platform for the indigenous apps ecosystem in India, ensuring a digitally inclusive growth for our customers.”
 
Rakesh Deshmukh, co-founder, director and CEO, Indus OS, added, “We are thrilled to commence on this exciting journey together with Affle. Indus OS platform with its indigenous app store capabilities, thousands of apps and powered by a robust app recommendation engine is deployed by Samsung and many Indian OEMs. This deal would strategically strengthen our market position and create a leading one-of-a-kind engagement model for the Indian users. I would like to thank our team, users and partners for their continued support, and looking forward to our long-term collaboration together with Affle.”
Source:
Campaign India

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