phonepe in talks to acquire indian app store indus os hyperedge embed image

Walmart-backed Indian payments services firm PhonePe is in advanced stages of talks to acquire Samsung-backed Indus OS, a startup that operates an eponymous third-party Android app store, a source familiar with the matter told TechCrunch.

The deal values Noida-headquartered Indus OS at $60 million, the source said, requesting anonymity as the matter is private. The deal has yet to close. PhonePe and Indus OS didn’t immediately respond to a request for comment.

Indian news outlet Entrackr first reported about the development.

Indus OS powers several popular third-party Android stores including Samsung’s Galaxy Store and provides partners with localized content and apps.

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Late last year, Indus OS said it offered its partners 400,000 apps in English and 12 Indian languages. The seven-year-old startup, which has raised about $21 million to date and monetizes through ads, has amassed over 100 million users.

The startup plans to launch an app store for individual users once Google begins accepting third-party app stores, another source familiar with the matter said.

It remains unclear why PhonePe is interested in Indus OS’ offering. The Bangalore-based startup has long offered its own mini app store on its app. A handful of firms — including PhonePe rival Paytm — have either launched or explored launching their own mini app stores in recent months.

This post was first published on: TechCrunch

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