Bengaluru-based mobile value-added services provider company OnMobile has acquired one of the largest Swedish-based mobile app distribution startup Appland AB, in a cash deal.
According to the report which has been revealed, the deal is not expected to be valued over ₹110 crores ($15 million).
The acquisition will going to help the OnMobile to expand its business in the mobile games subscription space, leveraging the technology capabilities, along with its network.
As part of the deal, Jonatan Redvik, Co-Founder and CEO of Appland, will head OnMobile’s new games subscription business unit as its Vice-President, while Henrik Lewander, another Co-Founder of Appland, will act as the new unit’s Chief Technology Officer.
The company which is led and founded by Redvik and Lewander in the year 2011, Appland provides a cloud-based mobile distribution and monetisation platform for its various clients and customers. It provides white label app stores and app subscription clubs to some of the operators, mobile manufacturers, and mobile commerce experts.
The startup also deals in the value added services which includes the gamers club, kids club, and apps club. It claims to have installed its solutions on over 10 million devices across 200 countries, enabling its customers.
Some of the notable clients of Appland include Ericsson, Telenor, Vodafone, and Reliance Jio, among others. The company has also raised $1.1 million in seed funding in the year 2014.
Founded in 2000 by Mouli Raman, OnMobile offers a wide range of carrier and consumer services like games, news, sports, videos, music, along with content management, content monetization, content distribution, among others.
OnMobile services as of now are used by the 1.5 billion mobile users in 55 countries every month. The company claims to generate $1 billion in revenues through its diverse portfolio of sound, digital content, entertainment, and infotainment products.
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