"We are happy that the matter has been amicably settled for all the entities. We wish PhonePe team the very best for its stated vision of building a homegrown horizontal, local Appstore,” said Mei Theng Leong, director of AGPL, in a joint statement b
Digital payments firm PhonePe said on Friday it has completed the acquisition of Indus OS after reaching an out-of-court settlement with Affle Global Pte Ltd (AGPL), the majority owner of the India-made content and app discovery platform.
PhonePe acquired AGPL's entire stake at a premium, but did not reveal the deal value. The acquisition was closed after a months-long legal dispute between PhonePe and AGPL and Ventureast Fund on the valuation of IndusOS, which is alternatively called OSLabs.
"We are happy that the matter has been amicably settled for all the entities. We wish PhonePe team the very best for
First Published: Jul 29 2022 | 5:26 PM IST