Corona Labs, the mobile app development firm, has been acquired by cloud-based mobile rewards platform provider, Perk.com for $2.3m. Corona Labs offers a SDK which helps developers build cross-platform apps, games and eBooks for iOS, Android, Kindle Fire and Nook. It has a community of 300,000+ developers worldwide and apps developed through Corona Labs have been downloaded 60m times over the last year.
Corona Labs SDK builds apps faster
Perk.com will be integrating its rewards platform into Corona’s SDK to allow mobile developers to utilise its monetisation tools. The deal follows Perk.com’s recent acquisition of SuperRewards.
Ted Hastings, CEO, Perk, confirms:
“Over 300,000 mobile app developers have selected the Corona development platform, creating apps that have over 60 million downloads and generate over a billion sessions per month. We can now integrate our rewards model and monetization solution into the Corona platform to make it part of the infrastructure from day one of a new app launch.”
Under the terms of the deal, Perk will pay $1.5m on closing of the transaction and a further $0.8m over the next 12 months.
Walter Luh, Founder and Creator of Corona, says:
“We built Corona with a vision to be the market leading cross platform mobile development platform. Combining with Perk brings new investment for the platform from an organization that started as mobile app developers and had first hand experience with the power of the Corona platform in building its own apps. We will be able to further our vision and provide our developers with an out of the box monetization solution and rewards program. Our team is excited about the partnership and believes the shared interest of the two companies will quicken the process of us reaching our long term goals.”