VerSe Innovation, the father or mother agency of stories aggregator app Dailyhunt, has acquired the favored digital newsstand agency Magzter, the 2 mentioned Thursday.

The Bengaluru-headquartered startup has totally acquired Magzter, a New York-headquartered agency that counted Singapore Press Holdings amongst its backers. VerSe didn’t disclose the monetary phrases of the deal.

The acquisition of Magzter, which provides greater than 8,500 magazines on its eponymous app, underscores VerSe’s give attention to targetting and serving the prosperous viewers, VerSe co-founder Umang Bedi advised TechCrunch in an interview.

Magzter has greater than 1 million paying subscribers in India, and 87 million energetic customers globally. The agency, which fees about $20 to $30 yearly to shoppers for its all-you-can-consume mannequin, will discover a distribution and expertise accomplice in VerSe, serving to the U.S. agency cut back its consumer acquisition price, Bedi mentioned.

Dailyhunt started evaluating the take care of Magzter final yr. The Indian agency plans to launch Dailyhunt Premium this yr that may embody an ad-free expertise in addition to Magzter’s catalog. Magzter will proceed to function as a standalone service as properly, Bedi mentioned.

This can be a creating story. Extra to observe.