Bengaluru-based mobile value-added services provider company OnMobile has acquired 100% stake in Swedish-based mobile app distribution startup Appland AB, in a cash deal.
According to the stock exchange filings, the deal is not expected to be valued over ₹110 crores ($15 million).
The acquisition will enable OnMobile to expand its business in the mobile games subscription space, leveraging the technology capabilities, along with its network.
As part of the deal, Jonatan Redvik, Co-Founder and CEO of Appland, will head OnMobile’s new games subscription business unit as its Vice-President, while Henrik Lewander, another Co-Founder of Appland, will act as the new unit’s Chief Technology Officer.
Founded by Redvik and Lewander in 2011, Appland provides a cloud-based mobile distribution and monetisation platform. It provides white label app stores and app subscription clubs to operators, mobile manufacturers, and mobile commerce experts.
The startup also offers value-added services like gamers club, kids club, and apps club. It claims to have installed its solutions on over 10 million devices across 200 countries, enabling its customers.
Appland had last raised $1.1 million in seed funding in May 2014.
Founded in 2000 by Mouli Raman, OnMobile offers a wide range of carrier and consumer services like games, news, sports, videos, music, along with content management, content monetization, content distribution, among others.
OnMobile services are used by over 1.5 billion mobile users in 55 countries every month. The company claims to generate $1 billion in revenues through its diverse portfolio of sound, digital content, entertainment, and infotainment products.
François-Charles Sirois, Chairman and CEO of OnMobile, said, “Our roadmap is to roll out over 100 games clubs by the end of this financial year, increase subscriptions and boost revenues through a joint marketing effort with our operators and distribution partners.”