Austrian app marketing company App Radar acquired its Spanish competitor TheTool. With this acquisition, the two companies will join forces and provide their clients with the most comprehensive app marketing tool to optimize their ASO strategy in the best way possible.
App Radar will be able to access TheTool customer base and assets
App Radar acquired TheTool to strengthen and expand its market position in Europe, according to today’s statement. While no announcement has been made about the financial details of the acquisition, this has been the first major acquisition an App Store Optimization Tool has ever made.
Founded in 2015, App Radar provides tools and services for organic and paid user acquisition to many gaming companies in 160 countries. Founded in 2017, two years after App Radar, TheTool specializes in data insights for app marketers. Now, TheTool’s customer base of more than 400 will be taken over by App Radar.
“Our goal is to become a one stop shop for app marketing products.”
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. 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, added: “I am very pleased to have struck a deal with App Radar. Their suite of products is the perfect compliment 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.”
Acquisitions enable the industry to develop
The rapid growth in the app market last year paved the way for large acquisitions and investments. According to data published by App Annie, the global app market broke a record with revenue of $31.9 billion in the last quarter of 2020. App Radar, which doubles its annual sales in this process, promotes the development of the entire ecosystem around mobile marketing by purchasing TheTool.
Similarly, AppLovin, which has acquired six companies since 2014, announced its acquisition of Adjust in recent weeks. Although the agreement between Adjust and AppLovin is said to be around $1 billion, no official statement has been made.