Mobile entertainment company OnMobile Global has acquired Appland AB, a Sweden-based mobile distribution and monetisation company for an undisclosed amount.
- A VCCircle report states that the deal will not exceed $15 million.
- OnMobile will try to capture a part of the mobile games market and expand internationally with this acquisition.
- OnMobile plans to roll out 100 games clubs by the end of this financial year, increase subscriptions and boost its revenues through marketing.
Jonatan Redvik, CEO and Founder of Appland, will join OnMobile as VP of its newly formed Games Subscription Business Unit (GSBU) and Appland CTO Henrik Lewander will be the CTO of GSBU. Appland has ‘premium games’ and kids apps through white label subscriptions across 80 carriers and 40 countries. It also offers white-label app stores with curated international and local content. It has tie ups with Reliance Jio, Ericsson and Ooredoo among others.
Banglalink tie up
In June last year, OnMobile Global signed a 3 year ringback tone and reverse ringback tone deal with Bangladesh-based telecom company Banglalink. OnMobile would manage the platform, content and business operations of Banglalink’s Amar Tune (Ringback Tone) and Priyo Tune (Reverse Ringback Tone) for the next three years.
OnMobile Global posted a net profit of Rs 31 lakh for the quarter ended June 30, 2018 (Q1 FY19) compared to net profit of Rs 2.5 crore in the same quarter last year, representing a fall of 88% YoY. It posted a net profit of Rs 4.3 crore in the preceding quarter. OnMobile said that the fall in the net profit was because of the inclusion of a one-time loss on sale of property at Rs 2.6 crore and interest on income tax refund of Rs 3.2 crore in last quarter. Revenues stood at Rs 150.6 crore a decline of 8% from Rs 163.6 crore in the same quarter last year.