Rumor: UCWeb Acquires PP Assistant for USD 100 Mln
Sootoo, 10/18/13
According to Chinese tech media reports, third-party mobile browser developer and mobile game platform operator UCWeb has acquired Guangzhou-based Teiron, operator of mobile app store PP Assistant, for approximately USD 100 mln.
Teiron was founded in 2009, receiving major investment from Guangzhou-based browser and mobile game developer and operator Yaowan. Teiron primarily operates three mobile products: PP Assistant, PP Browser, and "PP Handset Installation Assistant" ("PP Zhuangji Zhushou"), as well as two PC products: the PC version of PP Assistant and "PP Jailbreak Assistant" ("PP Yueyu Zhushou"). At present, PP Assistant is the second largest mobile app store for jailbroken iOS devices after 91 Assistant, with just under RMB 20 mln (USD 3.28 mln) in monthly revenue. The Android version of PP Assistant was launched in August, with total apps on the platform exceeding 450,000 as of September.
Teiron is also engaged in the research and development of mobile games.
Keywords: wireless UCWeb app store Yaowan PP Assistant Teiron mobile application M&A