Affle to acquire Appnext, strengthen mobile app recommendation platform
New Delhi [India], June 9 (ANI): Consumer intelligence platform Affle India on Tuesday announced the signing of definitive agreements to acquire full control of Appnext Pte Ltd in Singapore and 100 per cent intellectual property of Appnext app discovery and recommendation platform with immediate effect.
ANI
Jun 09, 2020 12:24 IST
New Delhi [India], June 9 (ANI): Consumer intelligence platform Affle India on Tuesday announced the signing of definitive agreements to acquire full control of Appnext Pte Ltd in Singapore and 100 per cent intellectual property of Appnext app discovery and recommendation platform with immediate effect.
Affle will initially acquire 66.67 per cent equity ownership in Appnext Singapore with a clear path to acquire 100 per cent equity ownership upon attainment of mutually agreed growth targets.
Appnext's app discovery and recommendation platform enables top mobile handset manufacturers (OEMs) and apps developers to deliver personalised app recommendations to mobile users globally. Appnext blends app recommendations as a service that integrates seamlessly with the users' daily mobile journey.
Utilising its proprietary 'Timeline' technology, Appnext predicts which apps the users are likely to use next. With 300 million daily active users, 20-plus on-device daily interactions through strategic OEM partnerships and 60,000-plus apps, Appnext is the leading independent app recommendation platform delivering over 4 billion app recommendations per day.
Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising. The platform aims to enhance returns on marketing investment through contextual mobile ads and also by reducing digital ad fraud.
"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 Affle's Chairman, MD and CEO Anuj Khanna Sohum.
"The Appnext platform transforms ads into app recommendations as a service for consumers and thus strengthens our cost per converted user (CPCU) business model by enabling greater return on investments for advertisers," he said in a statement.
At 12:20 pm, Affle India was trading 3.67 per cent higher on BSE Ltd at Rs 1,535.80 per share. (ANI)
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