20 May 2021
PhonePe is reportedly set to acquire Indus OS, a Samsung-backed third-party Indian Android app store. The report is coming from Entracker, an online publication, citing three people familiar with the matter. The all-cash deal is said to be worth around $60 million and an agreement has already been signed.
Indus OS describes itself as a "home-grown mobile platform that enables content and app discovery for users, app developers, and OEMs". It powers many of the popular app stores including Samsung's own store for Galaxy devices. Huawei was also reported to partner with the company to use its offering as a Google Play Store alternative.
Its official app store i.e. Indus App Bazaar currently boasts over 1 billion installs and more than 100 million users. The store is available in 12 different Indian languages as well as English and offers access to more than 400,000 apps. It lets users use the store without any need for registration.
If we talk about PhonePe, it is backed by Walmart and is one of India's popular money transfer and bill payment apps. It also offers a functionality called PhonePe Switch that works like a super app. It is essentially a collection of various apps spread across different categories so that users do not have to install each of them separately. There are speculations that PhonePe would be integrating Indus OS with its super app.