The acquisition will help Affle strengthen the mobile app recommendation platform globally.
Consumer intelligence company Affle India to fully acquire Appnext, Singapore based application discovery and recommendation platform. Affle India, through its subsidiary, has agreed to initially acquire 66.67 per cent equity stake in Appnext for $17.25 million. This include the full acquisition of the company's technological intellectual property assets.
Affle will acquire the remaining stake after Appnext archives mutually agreed growth targets. This acquisition will help the company strengthen the mobile app recommendation platform globally.
Anuj Khanna Sohum, Chairman, MD and CEO, Affle, said: “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.” .