App Radar Acquires TheTool to Strengthen Position in Europe and Expand Product Offering
Austrian app marketing company finalises six digit deal with Spanish competitor
App marketing company App Radar has acquired its Spanish competitor TheTool. The assets-only deal will expand App Radar’s presence in Europe and enable the app marketing company to offer a range of new features to its clients. It is one of the first major acquisitions of an App Store Optimisation Tool in the industry.
App Radar provides self-service tools and managed services that drive organic and paid user acquisition to companies including Rovio Entertainment, Wargaming and DEGIRO across 160 countries. TheTool specialises in data insights for app marketers, and its customer base with more than 400 customers will be taken over by App Radar.
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The acquisition follows App Radar recording a second straight year of turnover doubling, and a raft of deal making in the industry such as App Lovin’s $1 billion deal to buy Adjust and Blackstone’s $400 million investment in LiftOff. The global app market hit a record $31.9 billion in quarterly revenue at the end of 2020 according to App Annie.
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.
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“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, said: “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.”
App Radar has been built to be one of the easiest to use app marketing solutions available on the market. Its features have been designed around a clear UX developed in line with feedback from marketers. As a result, it is the only platform that works hand-in-hand with their workflows. This allows marketers to move between research, analytics and editing all inside one solution rather than having to run multiple solutions.
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