Affle Global announced that it has acquired ownership of an additional 13.09% in OSlabs Pte. Ltd. With this investment, AGPL and its affiliates now have approximately 60% 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 Venture Investment Corporation at an approximate Indus OS valuation of USD 90 million for the preference shares.
“AGPL continues to believe 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,” stated Affle’s press release.
The release further stated,”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,”
This news comes soon after AGPL had nominated Anuj Khanna Sohum, to be a Non-Executive Director on the Board of Indus OS and his appointment as a Non-Executive Director effective April 21, 2022 was confirmed by unanimous vote of all the investor directors and founder directors of Indus OS.