OnMobile acquires Swedish gaming platform

OnMobile Global Ltd, which specialises in mobile value-added services, has acquired a 100 per cent stake in Sweden-based mobile app distribution platform Appland AB in a cash deal. In a stock-exchange disclosure, Onmobile said the value of the deal will not exceed $15 million (around Rs 110 crore). The Bengaluru-based company said the acquisition would help expand its business operations in the mobile games subscription space. As part of the transaction, Appland CEO and co-founder Jonatan Redvik will take charge as the Vice-president of the newly-formed games subscription business unit while co-founder Henrik Lewander would assume the role of chief technology officer of the same unit. François-Charles Sirois, Chairman and CEO, OnMobile, said: “The 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 a joint marketing effort with our operators and distribution partners.”