#Asia Ronnie Screwvala’s Arre acquires video streaming firm Apalya

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Apalya is backed by IDG Ventures, Kalaari Capital, Cisco and Mumbai Angels

 Vamshi Reddy, CEO, Apalya

Vamshi Reddy, CEO, Apalya

Arre, a digital media brand owned and operated by serial entrepreneurRonnie Screwvala’s UDigital Content, has acquired Hyderabad-based on-demand video streaming company Apalya Technologies in an all-cash deal.

While the size of the deal has not been disclosed, The Economic Times pegs it at around US$3 million-US$3.7 million.

The transaction will be done through a 100 per cent buyout of shares from all the investors of Apalya, including IDG Ventures, Kalaari Capital, Cisco, Mumbai Angels and Co-founders Vamshi Reddy and Shiva Bayyapunedi.

With this deal, UDigital will get access to Apalya’s online video streaming products, including myplex and Mobile TV.

Post-acquisition, both the co-founders will be joining Arre.

“The acquisition makes sense for us, as the younger crowd now wants more digital content, and Arre is a much better platform for that,” Apalya’s Co-founder and CEO Vamshi Reddy told e27.

Also Read: India’s PepperTap buys Jiffstore; in advanced talks to raise US$11M funding

Established in 2005, Apalya works with 10 mobile operators across four countries for its over-the-top platforms — myplex and Mobile TV. The company claims to have a combined annual subscriber base of 10 million across all its platforms.

Also Read: Aspiring Minds acquires India’s student internship platform Letsintern

UDigital was founded in December 2012 by Screwvala, along with former media executives B Saikumar and Ajay Chacko. UDigital announced the formation of Arre in July this year, which is likely to be launched in February 2016.

In 2013, SAIF Partners-backed on-demand video streaming company iStream was shut down, as the company was unable to raise more funding.

The post Ronnie Screwvala’s Arre acquires video streaming firm Apalya appeared first on e27.

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