Affle has announced the signing of definitive agreements to acquire full control of Appnext Singapore with immediate effect.
Affle will initially acquire 66.67 per cent equity ownership in Appnext Singapore. The agreement gives Affles an option to acquire the remaining shares within five years.
Appnext’s app discovery and recommendation platform enables mobile handset manufacturers (OEMs) and apps developers to deliver personalised app recommendations to mobile users globally.
Utilising its ‘Timeline’ technology, Appnext predicts which apps the users are likely to use next.
Anuj Khanna Sohum, chairman, MD and CEO, Affle, said, “We are excited to welcome the Appnext team on-board as we strengthen our foundation for Affle's next phase of growth journey. Affle2.0 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. We value the platforms and the ecosystem enabled by Appnext, and look forward to growing that together now."
Elad Natanson, founder, Appnext, said, “We are thrilled to join forces with Affle in this exciting journey. Over the years, Appnext has built a robust platform that is deployed by leading global OEMs, on-device partners and thousands of apps. India and SEA are our biggest business markets and we are proud to have been recently ranked amongst the leading discovery platforms in these incredible regions. This deal would allow us to further strengthen our position and provide us a greater platform for global growth. I would like to thank our team, customers and partners for their continued support, and looking forward to our long-term collaboration together with Affle.”