Digital Turbine, the leading independent mobile growth platform, has made a strategic $12 million investment in Portugal’s Aptoide, one of the largest independent Android app shops, with over 250 million users. With this deal, the two companies intend to build new and innovative distribution products for Digital Turbine’s mobile operators, Original Equipment Manufacturers (OEM) and app developer customers.
Caiado Guerreiro’s team, composed by partners and lawyers Joana Gomes dos Santos and Ricardo Rodrigues Lopes, and the lawyer Neuza Felizardo Carreira, advised the American company in all legal issues inherent to the financing process, from the negotiation phase to the contract and final agreement.
Bill Stone, CEO of Digital Turbine, explains that “investment in Aptoide will deliver our Operators and OEM partners a more curated on-device app experience than what the current one-size-fits-all stores can deliver”, adding that “together, our technology can best serve the evolving needs of the app-store ecosystem, driving growth for app developers, operators, and OEM’s by enabling more choice for scaled distribution”.
“This was a very well-worked process by our team with solid valences in this area. This type of transaction reaffirms Caiado Guerreiro as one of the most important companies in Portugal when it comes to M&A”, explains João Caiado Guerreiro, managing partner of Caiado Guerreiro.