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PhonePe reaches settlement with Affle Global to acquire Indus OS

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.

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"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

Peerzada Abrar Bengaluru

2 min read Last Updated : Jul 29 2022 | 5:26 PM IST

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

Topics : PhonePe Indus OS acquisition Merger and Acquisition payments app digital payment wallet Ventureast Indus meet e-payments Affle India funds

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