ONE Store Partners with Digital Turbine for Global App Market Expansion

Rhea-AI Summary

ONE Store, Korea's leading app marketplace, has signed a platform and service agreement with Digital Turbine to expand its app marketplace services globally. The partnership combines ONE Store's expertise in mobile app distribution with Digital Turbine's global device footprint and SingleTap technology. As part of the collaboration, Digital Turbine acquired ONE Store International, ONE Store's European subsidiary. The companies plan to launch localized app marketplaces in key regions, including the U.S. This expansion follows their initial partnership in February 2024 for the Korean App Market and ONE Store's launch of 'Enjoystore' in Taiwan with HAPPYTUK in August.

Positive

• Strategic acquisition of ONE Store International by Digital Turbine strengthens global market presence
• Partnership leverages Digital Turbine's established global device footprint
• Integration of Digital Turbine's SingleTap technology enhances user experience
• Expansion into multiple key markets including U.S. and EU

Negative

• None.

Insights

Technology Industry Analyst

This strategic partnership marks a significant development in the app marketplace landscape. The collaboration between ONE Store and Digital Turbine combines ONE Store's established app marketplace expertise from Korea with Digital Turbine's global device relationships and SingleTap technology. The acquisition of ONE Store International by Digital Turbine strengthens their position to capitalize on regulatory changes like the EU's Digital Markets Act.

The partnership addresses key market opportunities:

• Alternative app store distribution amid increasing regulatory support
• Lower fees and more flexible policies for developers
• Expansion into major markets including US and EU

For Digital Turbine ($363M market cap), this deal could accelerate growth by tapping into the $170B global app economy. The timing aligns with growing developer demand for alternatives to dominant app stores and regulatory push for more competition.

• Collaboration to Combine App Market Expertise, Global Device Footprint and Innovative Technology
• Strengthening Partnership Following the Establishment of the Partnership in February 2024
• ONE Store Continues Strategic Global Expansion with Regional Customization and Optimal Partnerships

SEOUL, South Korea, Oct. 30, 2024 /PRNewswire/ -- ONE Store, Korea's leading app marketplace, announced that it has signed a platform and service agreement with Digital Turbine, the global leader in growth solutions for the mobile ecosystem, to expand its app marketplace services into global markets, empowering app developers to take control of their application distribution and grow their business globally beyond the incumbent app stores.

The partnership will leverage ONE Store's expertise in mobile app distribution and marketplace operations alongside Digital Turbine's global device footprint and innovative SingleTap technology to enable frictionless app installs for developers around the world. Together, the companies plan to launch localized app marketplaces in key regions, including the U.S. and other markets.

In February, ONE Store and Digital Turbine partnered to elevate the mobile experience in the highly sought after Korean App Market, marking the beginning of the strategic partnership focused on international expansion. This newly signed agreement expands that partnership, with ONE Store International, ONE Store's European subsidiary, acquired by Digital Turbine as part of the collaboration.

ONE Store is actively pursuing global expansion by tailoring its services for each market through partnerships with influential local players. The company's strategy is rooted in the operational expertise it has developed in its domestic market. In August, ONE Store demonstrated the potential of third-party app marketplaces by launching "Enjoystore" in partnership with HAPPYTUK, Taiwan's largest game publishing company.

Peter Chun, CEO of ONE Store, stated, "We are excited to partner with the global leader Digital Turbine to provide mobile users in global markets with a better alternative app marketplace. Through this partnership, we aim to create a fair and open ecosystem that supports developers' success and promotes healthy competition."

"The app economy has been subject to high fees, rigid policies, limited consumer choice, and an overall lack of developer control over how to grow their business," said Bill Stone, CEO at Digital Turbine. "This is more than just an app store expansion—it is an important step towards a fairer, more open mobile ecosystem where developers have the tools they need to create a true alternative path for app growth. This acquisition will allow us to offer a more scalable solution to leverage both the Digital Markets Act in the EU and our offerings in the U.S. and Latin American markets."

About ONE Store

ONE Store is Korea's leading app marketplace, offering a diverse range of digital content including games, apps, and multimedia. With over 10 years of successful app market experience, ONE Store is now venturing into the global market. Major shareholders include SK Square, Naver, Microsoft, Krafton, KT, and LGU+.

About Digital Turbine

Digital Turbine (NASDAQ: APPS) powers superior mobile consumer experiences and results for the world's leading telcos, advertisers, and publishers. Its end-to-end platform simplifies partners' ability to enhance awareness, acquisition, and monetization — connecting them with more consumers across more devices. Digital Turbine is headquartered in North America, with offices worldwide. Visit [www.digitalturbine.com]  for more information.

View original content to download multimedia:https://www.prnewswire.com/news-releases/one-store-partners-with-digital-turbine-for-global-app-market-expansion-302291565.html

SOURCE ONE Store

FAQ

What is the purpose of ONE Store's partnership with Digital Turbine (APPS)?

The partnership aims to expand ONE Store's app marketplace services globally, combining ONE Store's expertise in mobile app distribution with Digital Turbine's global device footprint and SingleTap technology.

Which markets will ONE Store and Digital Turbine (APPS) expand into?

The companies plan to launch localized app marketplaces in key regions, including the United States and other markets, with a focus on EU markets under the Digital Markets Act.

What did Digital Turbine (APPS) acquire in this partnership?

Digital Turbine acquired ONE Store International, which is ONE Store's European subsidiary, as part of the collaboration agreement.

When did ONE Store and Digital Turbine (APPS) initially partner?

ONE Store and Digital Turbine initially partnered in February 2024 to enhance the mobile experience in the Korean App Market.