Digital Turbine and ONE Store Expand Partnership to Globalize Alternative App Growth

Rhea-AI Summary

Digital Turbine and ONE Store announce a strategic expansion of their partnership through Digital Turbine's acquisition of ONE Store International. The deal aims to bring ONE Store's alternative app marketplace to North America, EU, and LATAM. This follows Digital Turbine's equity investment in ONE Store from February 2024.

ONE Store, currently South Korea's second-largest app marketplace with 38 million users and nearly $1 billion in annual transactions, will leverage Digital Turbine's device footprint and SingleTap technology for frictionless app installations. The partnership plans to extend services to iOS devices and create a more competitive ecosystem beyond traditional app stores, offering developers lower fees and greater control.

Positive

• Expansion into major markets (North America, EU, LATAM)
• Access to ONE Store's established user base of 38 million users
• Integration with $1 billion annual transaction platform
• Strategic positioning to leverage EU Digital Markets Act
• Potential iOS market expansion

Negative

• Entering highly competitive market dominated by established players
• Financial terms of acquisition not disclosed

Digital Turbine Will Bring a Suite of Android and iOS App Growth Solutions, Including ONE Store's Market Leading Alternative App Marketplace, to North America, the EU, and LATAM

AUSTIN, Texas and SEOUL, South Korea, Oct. 30, 2024 /PRNewswire/ -- Digital Turbine, the global leader in growth solutions for the mobile ecosystem, and ONE Store, the leading alternative app marketplace in South Korea, today announce that Digital Turbine is acquiring ONE Store International, a subsidiary of ONE Store focused on global expansion.

DT and ONE Store are partnering to create a fairer app ecosystem and expand alternative app growth globally

This acquisition marks the next phase in the strategic partnership between the two companies, aimed at empowering app developers to grow their business globally beyond the incumbent app stores.

In February 2024, DT took an equity position in ONE Store, establishing a strategic partnership focused on introducing Digital Turbine's User Acquisition solutions, including SingleTap, to South Korea, where ONE Store is the second largest app store.

The acquisition of ONE Store International expands the partnership between the companies by bringing ONE Store's proven and robust alternative app store to key app growth markets in North America, the EU, and LATAM. The companies will leverage Digital Turbine's device footprint and SingleTap technology to enable frictionless app installs for developers who publish their apps on ONE Store, which already has 38 million users and nearly $1 billion in annual transactions.

The companies are also collaborating on new technology and distribution capabilities to bring this expanded app store experience to iOS devices in the near future. As the partnership scales, Digital Turbine and ONE Store are committed to creating a comprehensive and competitive ecosystem beyond the traditional app store model, offering greater value to developers and consumers, and creating new opportunities for mobile operators to contribute to the ecosystem's growth.

"The app economy has been subject to high fees, rigid policies, limited consumer choice, and an overall lack of developer control over how to grow their business," said Bill Stone, CEO at Digital Turbine. "This is more than just an app store expansion, it is an important step towards a fairer, more open mobile ecosystem where developers have the tools that they need in order to create a true alternative path for app growth. This acquisition will allow us to have a more scalable offering both to leverage the Digital Markets Act in the EU and our offerings in the US and Latin American markets."

Peter Chun, CEO of ONE Store, stated, "We are excited to partner with the global leader Digital Turbine to provide mobile users in global markets with a better alternative app marketplace. Through this partnership, we aim to create a fair and open ecosystem that supports developers' success and promotes healthy competition."

Having launched and scaled its business in Korea by partnering and reaching the users of the country's largest mobile operators, ONE Store has grown to be the second-largest app marketplace in South Korea with over 38 million users and nearly $1 billion in annual transactions. The ONE Store model has proven that developers can succeed outside the established app store duopoly. With Digital Turbine's global on-device footprint and ONE Store's proven success, the companies will create a new growth engine for mobile operators and developers worldwide.

About ONE Store
ONE Store is Korea's leading app marketplace, offering a diverse range of digital content including games, apps, and multimedia. With over 10 years of successful app market experience, ONE Store is now venturing into the global market. Major shareholders include SK Square, Naver, Microsoft, Krafton, KT, and LGU+.

About Digital Turbine
Digital Turbine (NASDAQ: APPS) powers superior mobile consumer experiences and results for the world's leading telcos, advertisers, and publishers. Its end-to-end platform simplifies partners' ability to enhance awareness, acquisition, and monetization — connecting them with more consumers across more devices. Digital Turbine is headquartered in North America, with offices worldwide. Visit [www.digitalturbine.com] for more information.

Media contact:
Daniel Gal
daniel.gal@digitalturbine.com

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SOURCE Digital Turbine, Inc.

FAQ

What markets will Digital Turbine (APPS) expand to with ONE Store International acquisition?

Digital Turbine will expand ONE Store's alternative app marketplace to North America, the European Union, and Latin America.

How many users does ONE Store currently have?

ONE Store currently has 38 million users and processes nearly $1 billion in annual transactions.

When did Digital Turbine (APPS) take an equity position in ONE Store?

Digital Turbine took an equity position in ONE Store in February 2024.

Will the Digital Turbine (APPS) and ONE Store partnership extend to iOS devices?

Yes, the companies are collaborating to bring their expanded app store experience to iOS devices in the future.