Affle Global buys additional stake in Indus OS to become largest investor

Technology company Affle Global said on Friday it had bought an additional stake in Indus OS, an app and content discovery platform, from Samsung Ventures.

Singapore-based Affle said in a press statement the deal makes it the investor with the largest ownership of preference shares in Indus. Affle bought and additional 13.09 per cent in OSlabs Pte. Ltd. (Indus OS). Affle and its affiliates now have approximately 60 per cent of investor voting rights tied to the issued preference shares in Indus OS. The additional ownership was acquired by way of a secondary purchase from Samsung Ventures—the deal gave Indus OS an approximate valuation of $90 million for the preference shares

AGPL said it believes in the global potential and growth of Indus OS, underpinning its scalability in India and opportunities in global emerging markets, while emphasizing on accountability of corporate governance matters and to ensure good corporate hygiene in all spheres of functions and operations for the benefit of all stakeholders of Indus OS.

AGPL intends to remain a long-term investor and it looks forward to providing further funding support to Indus OS to scale greater heights, strengthening Indus OS position to enable a one-of-its-kind app engagement model.