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Getjar, the Lithuanian marketplace for free smart phone games has just got acquired. The buyer is Chinese provider of Sungy Mobile Limited who paid north of $5,3 million for the company, according to the Sungy Mobile press release.
This is not all, as there are 1,4 million shares that will be paid to GetJar seller in 2016 if the certain targets are achieved. This brings the total valuation, based on the current Sungy share price to just under $35 million. There are also equity incentives for the management.
The reason for acquisition is the mobile data analytics that will be used to help Sungy Mobile tailor its mobile advertisement. Sungy main product is Go Launcher that manages apps and widerts on Android phones.
We covered GetJar in the past as CEE region success story in summer 2012, as the company reportedly raised $42 million in funding from Accel Partners and Tiger Global Management. In 2012 the company saw 30 million unique monthly users but since then the Alexa traffic ranking dropped from 12000 to 18000.
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