Austrian app marketing company finalizes six-digit deal with Spanish competitor. It is one of the industry’s biggest acquisitions in App Store Optimization.
London, UK, 23rd February 2021- App Radar, an Austria-based app marketing company has acquired its Spanish competitor TheTool, which is a VC-backed developer of an app optimization platform. According to sources, the assets-only deal will strengthen App Radar’s presence in Europe and enable the app marketing company to expand the product offering with new features to its clients. It is one of the first major acquisitions of an App Store Optimisation tool in the industry.
App Radar is a reputed app marketing agency that provides self-service tools and manages services that drive organic and paid user acquisition to companies including Rovio Entertainment, Wargaming and DEGIRO across 160 countries. Whereas TheTool specializes in data insights for app marketers, and its customer base with more than 400 customers will be taken over by App Radar.
The acquisition follows App Radar recording a second straight year of turnover doubling and a raft of deal-making in the industry such as App Lovin’s $1 billion deal to buy Adjust and Blackstone’s $400 million investment in LiftOff. The global app market hit a record $31.9 billion in quarterly revenue at the end of 2020 according to App Annie.
Thomas Kriebernegg, CEO and Co-Founder of App Radar, said, “This deal is a huge step in App Radar’s journey. It will enable us to significantly expand our product offering and provide us with a stronger footing in the European app market.”
“Our goal is to become a one-stop-shop for app marketing products and TheTool’s range of excellent app analytics services is an important piece of this puzzle. We plan to build on this achievement by further expanding our reach in Europe - particularly the UK and Germany - and doubling down on product development.” -Thomas added.
Thomas mentioned, “Daniel has built a great company and we’re delighted that he will work with us following the acquisition.”
Daniel Peris, the Co-Founder, and CEO of TheTool said: “I am very pleased to have struck a deal with App Radar. Their suite of products is the perfect complement to what we have built at TheTool. By combining these solutions App Radar is going to have one of the most complete app marketing offerings available.
“I am really looking forward to helping App Radar achieve their goal of becoming one of Europe’s leading app marketing companies,” Daniel stated.
App Radar has been built to be one of the easiest to use app marketing solutions available on the market. Its features have been designed around a clear UX developed in line with feedback from marketers. As a result, it is the only platform that works hand-in-hand with their workflows. This allows marketers to move between research, analytics, and editing all inside one solution rather than having to run multiple solutions.
App Radar is an app marketing company founded in 2015 in Austria by Thomas Kriebernegg and Christian Janesch and co-managed by Silvio Peruci, backed by Austrian’s leading VC network eQventure. App Radar focuses on organic and paid user acquisition and lets companies combine self-service tools with managed services for app marketing. This way apps can grow faster, either on their own or with the support of App Radar’s experts. The international team of App Radar has already helped customers like iTranslate, Kolibri Games, Wargaming, DEGIRO, Rovio Entertainment, some of the world’s most successful mobile companies. For more information, visit their website.
TheTool is a performance-based Mobile ASO tool for iOS and Android apps. It enables users to easily track and optimize their app marketing strategy, increase downloads and grow their business. TheTool was created by PICKASO, the leading App Marketing and Mobile Growth agency in Spain in 2013. TheTool was launched to the public in 2017 and has been developed by SEO & ASO specialists with more than 12 years of experience in digital businesses and startups. For more information, visit their website.
With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!
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