Affle signs pact to buy 8 per cent stake in Singapore-based OSLabs – Exchange4Media
Affle (India) Ltd, a mobile commerce and marketing solutions provider, has signed a definitive agreement to acquire an 8 per cent stake in OSLabs Pte. Ltd, Singapore, for $2.86 million.
OSLabs, which operates under the brand name Indus OS, has largest independent apps store in India.
“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,” Affle Chairman, Managing Director and Chief Executive Officer Anuj Khanna Sohum said.
“It strengthens Affle’s position as the enabling platform for the indigenous apps ecosystem in India, ensuring a digitally inclusive growth for our customers,” he added.
Indus App Bazaar has more than 4 lakh apps in English and 12 Indian languages including Hindi, Gujarati, Marathi, Tamil, Telugu, Urdu, Odia, Punjabi, Malayalam, Bengali, Assamese and Kannada.
“This deal would strategically strengthen our market position and create a leading one-of-a-kind engagement model for the Indian users,” Rakesh Deshmukh, Co-founder, Director and CEO of Indus OS, said.