- Affle India Limited is all set to acquire Appnext Pte through its subsidiaries (“Affle”) & announced the signing of the definitive agreements.
Affle India Limited is all set to acquire Appnext Pte through its subsidiaries (“Affle”). Affle, today announced the signing of the definitive agreements to acquire full control of Appnext Pte. Ltd., Singapore, and 100% of the Appnext app discovery platform with immediate effect. At Appnext Singapore, Affle will initially acquire 66.67 percent ownership of equity, with a clear path to acquiring 100 percent ownership of equity upon reaching mutually agreed growth targets.
Appnext’s app discovery and recommendation platform allow top mobile handset manufacturers (OEMs) and developers of apps to deliver custom app recommendations to mobile users worldwide. Appnext blends app recommendations as a service that seamlessly integrates with the daily mobile journey of the users. Appnext uses its patented ‘Timeline’ technology to predict which applications the users are likely to use next. With 300 million daily active users, 20 + daily on-device interactions through strategic OEM alliances, and 60,000 + applications, Appnext is the leading independent source for app recommendations providing over 4 billion app recommendations a day.
Commenting on this development, Anuj Khanna Sohum, the Chairman, MD, and CEO at Affle said “We are excited to welcome the Appnext team on-board as we strengthen our foundation for Affle’s next phase of the 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!”
Speaking about it, Elad Natanson, Founder of Appnext said, “In this exciting journey, we are excited to join forces with Affle. Appnext has built a robust platform over the years, which is deployed by leading global OEMs, on-device partners, and thousands of apps. India and SEA are our key business markets and we are proud to be one of the leading innovation channels in these exciting regions recently. This deal will allow us to strengthen our position further and provide us with a larger forum for global growth. I wish to thank our team, our customers, and partners for their continued support and look forward to our long-term cooperation with Affle.
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