Affle India to acquire 8% stake in OSLabs (Indus App Bazaar)

Affle India to acquire 8% stake in OSLabs (Indus App Bazaar)

Jul 02, 2020 05:07 IST capital market

Affle India announced that its Singapore subsidiary, Affle International has entered into a definitive Share Subscription Agreement to acquire 8.0% ownership in OSLabs incorporated in Singapore. The acquisition will be completed before 25 July 2020. A total consideration of USD 2.86 million for 8.0% of ownership, will be paid on or before the date of closing of the agreement.

Indus OS is a mobile app and content discovery platform, operating ?Indus App Bazaar? which is Indias largest independent indigenous apps store. Indus OS platform is designed to help users discover digital content and services in the language of their choice. Utilizing its proprietary AI-driven app recommendation engine, Indus OS optimizes the user experience, delivering higher engagements and bringing app developers, smartphone brands and users on a single India centric platform.

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