China’s Sungy Mobile buys VC-backed app store Getjar
Sungy Mobile, a VC-backed Chinese app developer that went public on NASDAQ last year, has acquired GetJar, a US-based mobile ad network. GetJar previously raised three rounds of VC funding, two led by Accel Partners and the third led by Tiger Global.
The transaction is worth an initial $5.3 million in cash, although Sungy may issue up to 1.44 million ordinary shares as earn-out payments to GetJar's owners by early 2016, conditional on certain performance...
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