OnMobile to acquire Sweden-based Appland
OnMobile to acquire Sweden-based ApplandET Bureau|Oct 12, 2018, 06.44 PM ISTBENGALURU: OnMobile Global Ltd said it would acquire Sweden-based Appland AB, mobile entertainment and kids App Clubs subscription services provider for up to $15 million (nearly Rs 110 crore on Fridayâs exchange rate).
The Bengaluru-headquartered mobile entertainment services company said this acquisition is aimed at expanding OnMobileâs games footprint globally. The company said in a filing to the stock exchange that it would pay ânot exceeding $ 15 Million in two or more tranches including an earn out portion â for the acquisition.
OnMobile said Jonatan Redvik, chief executive officer and founder, Appland, would take up the vice-president role of its newly-formed Games Subscription Business Unit (GSBU) and Applandâs CTO Henrik Lewander would assume the role of CTO of GSBU.
Appland AB, a cloud-based mobile distribution and monetization company headquartered in Gothenburg, Sweden, provides premium games and kids apps as a white-labeled subscription service to more than 80 carriers in over 40 countries. Founded in 2011, the firm provides its cloud-based app-distribution, subscription and monetization services to several well-known telecom operators and companies such as Reliance Jio, Ericsson and Ooredoo.
âThe combination of OnMobile and Appland will provide immediate business value and innovation to our customers. Our roadmap is to roll out over 100 games clubs by the end of this financial year, increase subscriptions and boost revenues through joint marketing effort with our operators and distribution partners,â FranÃ§ois-Charles Sirois, Chairman & CEO, OnMobile, was quoted saying.
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