Affle India to acquire 8 per cent stake in smartphone operating system Indus OS

Affle, Mobile advertising company, plans to acquire 8 per cent stake in smartphone operating system firm Indus OS.

According to a statement released by the company, "Affle (India) Ltd through its subsidiaries announced the signing of a definitive agreement to acquire 8 per cent ownership in OSLabs Pte Ltd, Singapore, (Indus OS). Indus OS operates India's largest independent indigenous app store, with key investment from Samsung Venture Investment Corporation."

As per its filing to a regulatory body, Affle will pay US$ 2.86 million to Indus OS for the stake.

"We derive significant synergies with the Indus App Bazaar which, through its multi-lingual capabilities, deeply enhances our vernacular scale and the verticalization strategy.

"It strengthens Affle's position as the enabling platform for the indigenous apps ecosystem in India, ensuring a digitally inclusive growth for our customers," Affle Chairman, MD and CEO Mr Anuj Khanna Sohum said.

Indus OS has 'Indus App Bazaar', which consist of over four lakh apps accessible in English and 12 Indian languages -- Hindi, Gujarati, Marathi, Tamil, Telugu, Urdu, Odia, Punjabi, Malayalam, Bengali, Assamese, and Kannada.

"Indus OS platform with its indigenous app store capabilities, thousands of apps and powered by a robust app recommendation engine is deployed by Samsung and many Indian OEMs (original equipment makers).

"This deal would strategically strengthen our market position and create a leading one-of-its-kind engagement model for the Indian users," Indus OS co-founder, Director and CEO Mr Rakesh Deshmukh said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.