PhonePe reaches amicable settlement with Affle Global to acquire OSLabs

Singapore: PhonePe, India’s leading digital payments platform announced the acquisition of OSLabs, a mobile platform that enables content and app discovery for users and app developers.

PhonePe, AGPL and OSLabs have reached an amicable settlement in the matter, with PhonePe acquiring AGPL’s entire stake at a premium.

The closure of this deal allows PhonePe to pursue its stated vision of building a homegrown horizontal, local Appstore, while AGPL gets a premium on its original investment.