Affle (India) Ltd, a global technology company on July 2, 2020, announced the signing of definitive agreement to acquire 8 per cent stake in OSLabs Pte Ltd (Indus OS), Singapore.
Indus OS with key investment from Samsung Venture Investment Corporation operates India’s largest indigenous apps store.
‘Indus App Bazaar’, a key offering of Indus OS has more than 4 lakh applications in English and 12 Indian languages. It is a default app store for all the Samsung devices in India powering Samsung’s Galaxy store along with partnering with many Indian original equipment manufacturers (OEMs). The platform helps the users in discovering digital services in their preferred language.
This investment confirms commitment to Affle 2.0 growth strategy and in developing sustainable market leadership. The synergies derived by the ‘Indus App Bazaar’ app helps to enhance the vernacular scale along with the vertical growth of the company.
Affle, through its consumer intelligence platform, delivers consumer engagement, acquisition and transaction by relevant mobile advertising. The platform intends to enhance returns on marketing investment through contextual mobile ads.
Affle (India) Ltd successfully completed IPO and was listed on BSE and NSE in August 2019 and is now trading at 63 per cent higher than its listing price. At 12.50 pm on Friday, its share was trading at Rs 1,523.9 with a growth of 5 per cent or Rs 72.55 on BSE.