China acquires Lithuanian smartphone marketplace GetJar

GetJar, one of the very well known and used marketplace for free smartphone games got acquired. The buyer is Sungy Mobile Ltd. from China, the company behind the popular android app GoLauncher, who made the purchase for $5.3 million.

Transaction also included an incentive of 1.4 million shares to be paid to GetJar if they fulfill specific target goals in 2016. This puts the final price in the area of $35 million for this company.

Sungy Mobile made this investment for the purpose of using the data analytics from this platform in their marketing and advertisement strategy.

Back in 2012, GetJar was reported raising $42 million from Accel Partners and Tiger Global Management.

Zack C.

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