The company said that the assets-only deal would expand its presence across Europe and allow the app marketing firm to boost its range of features.
TheTool provides data insights for app marketers. The company boasts some 400 clients.
App Radar offers its clients a host of self-service tools and managed services to drive organic and paid user acquisition for companies like Rovio Entertainment, Wargaming and DEGIRO across 160 countries.
Its features are designed based on feedback from marketers.
“This deal is a huge step in App Radar’s journey. It will enable us to significantly expand our product offering and provide us with a stronger footing in the European app market,” said Thomas Kriebernegg, CEO and Co-Founder of App Radar.
“Our goal is to become a one stop shop for app marketing products and TheTool’s range of excellent app analytics services is an important piece of this puzzle. We plan to build on this achievement by further expanding our reach in Europe – particularly the UK and Germany – and doubling down on product development.”
The acquisition follows a solid year of success for App Radar in which it doubled turnover. This is set against the backdrop of the app market hitting $31.9 billion in quarterly revenues in 2020.
“I am very pleased to have struck a deal with App Radar. Their suite of products is the perfect compliment to what we have built at TheTool. By combining these solutions App Radar is going to have one of the most complete app marketing offerings available,” said Daniel Peris, the Co-Founder and CEO of TheTool.
“I am really looking forward to helping App Radar achieve their goal of becoming one of Europe’s leading app marketing companies.”