Affle to acquire 8% strategic stake in Indus OS for $2.86 million – Economic Times
MUMBAI: Consumer intelligence company Affle India is set to acquire 8% stake in Singapore-headquartered OSLabs, which operates independent indigenous apps store Indus OS, for $2.86 million (around Rs 21.4 crore).
A home-grown app and content discovery platform, Indus OS also has key investment from Samsung Venture Investment Corporation. Indus OD offers ‘Indus App Bazaar’, which has over 400,000 apps accessible in English and 12 Indian languages including Hindi, Gujarati, Marathi, Tamil, Telugu, Urdu, Odia, Punjabi, Malayalam, Bengali, Assamese and Kannada.
It is also the default apps store for all Samsung devices in India powering the Samsung’s Galaxy store, and partners with many of the Indian OEMs as well.
“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,” said Anuj Khanna Sohum, CMD and CEO at Affle.
HE added that the company will derive “significant synergies” with the Indus OS App Bazaar, which will enhance Affle’s vernacular scale and the verticalization 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,” Sohum added.
Indus OS platform is designed to help users discover digital content and services in the language of their choice. Utilising its proprietary AI-driven app recommendation engine, Indus OS optimises the user experience, delivering higher engagements and bringing app developers, smartphone brands and users on a single India centric platform.
“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,” said Rakesh Deshmukh, co-founder and CEO, Indus OS.
Last month, Affle had acquired 66.7% stake in independent app recommendation platform Appnext for Rs 132 crore and in February, it had acquired Spanish mobile advertising technology company Mediasmart for €5.1 million, or about Rs 40.6 crore, in an all cash deal.
Affle Holdings, the Singapore-headquartered parent entity, counts among its investors Microsoft, D2C (the digital advertising and marketing company established jointly by NTT DoCoMo, Dentsu, and NTT Advertising), Itochu, Centurion Investment Management and Bennett Coleman & Co Ltd, which publishes The Economic Times.