Affle, a mobile marketing technology firm focused on user acquisition has struck a deal to acquire full control of Appnext Singapore with immediate effect.
Affle, which was originally founded in Singapore in 2005 but became a publicly-traded company in India last year, will initially acquire a two-thirds equity ownership in Appnext Singapore. The agreement, however, gives Affle an option to acquire the remaining shares within five years.
Appnext’s app discovery and recommendation platform lets mobile device makers and app developers deliver personalised app recommendations to mobile users globally. Its technology allows Appnext to predict which apps users are likely to use next.
“We are excited to welcome the Appnext team on-board," said Anuj Khanna Sohum, chairman, MD and CEO." Affle 2.0 will focus on building sustainable market leadership in India as well as enhancing our competitive advantage globally. The Appnext platform transforms ads into app recommendations as a service for consumers and thus strengthens our 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."
“We are thrilled to join forces with Affle," Elad Natanson, founder of Appnext, added. "This deal would allow us to further strengthen our position and provide us a greater platform for global growth.”