Affle Global buys additional stake in Indus OS from Samsung Ventures, gains largest ownership of preference shares

With this investment, the Singapore-based company and its affiliates now have approximately 60 percent 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, ADPL said in a statement.

"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," the company said.

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, the statement added.

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.