Appland was acquired by OnMobile Global for $15M

Sweden M&A 11 October 2018
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Appland, a Gothenburg, Sweden-based mobile entertainment and kids App Clubs subscription services provider announced getting into an agreement to sell the company to Indian mobile entertainment company OnMobile Global.

The transaction, which was made through the European subsidiary OnMobile Europe BV, is not exceeding $15M in two or more tranches and includes an earn out portion. OnMobile aims to expand business operations into mobile games subscription market. Jonatan Redvik, chief executive officer and founder, Appland, would take up the vice-president role of its newly-formed Games Subscription Business Unit (GSBU) and Appland’s CTO Henrik Lewander would assume the role of CTO of GSBU.

Appland, founded in 2011 by Jonatan Redvik, developed a cloud-based mobile distribution and monetization service which provides premium games and kids apps as a white-labeled subscription service to more than 80 carriers in over 40 countries. The service is largest in Central America, the Middle East and Southeast Asia, (not available in Sweden though) and works with telecom operators and companies such as Reliance Jio, Ericsson and Ooredoo.

The company was not profitable, as it lost SEK 6M in 2017, at revenues of SEK 8M ($900k).