Mobile marketing platform, Affle (India), announced plans to acquire app discovery and recommendation platform Appnext.
Affle initially acquired 66.7% equity ownership in Appnext Singapore and now plans to acquire 100% equity ownership in the company.
Appnext’s technology allows marketers and app developers to predict which apps users are likely to install.
It delivers over four billion app recommendations daily and has some 300 million daily active users.
“Affle 2.0 will focus on building sustainable market leadership in India as well as enhancing our competitive advantage globally through our technology innovations,” said Anuj Khanna Sohum, Chairman, MD and CEO of Affle. “The Appnext platform transforms ads into app recommendations as a service for consumers and thus strengthens our CPCU business model by enabling greater ROI for advertisers.”
Elad Natanson, the Founder of Appnext commented “We are thrilled to join forces with Affle in this exciting journey. Over the years, Appnext has built a robust platform that is deployed by leading global OEMs, on-device partners and thousands of apps. India and SEA are our biggest business markets and we are proud to have been recently ranked amongst the leading discovery platforms in these incredible regions. This deal would allow us to further strengthen our position and provide us a greater platform for global growth. I would like to thank our team, customers and partners for their continued support, and looking forward to our long-term collaboration together with Affle.”
As a growing number of people are spending time online and transactions have increased. Time spent online and ad inventory has increased. This presents a significant opportunity for Affle to diversify its offering.