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DN Capital sells Apsmart stake to Thomson Reuters

12 Jun 2012

Global growth investor DN Capital has exited its majority stake in London-based mobile platform Apsmart to Thomson Reuters.

The firm founded Apsmart in 2009 alongside Rahul Powar, who created the first Shazam music recognition app for the iPhone.

Robert Schukai, global head of mobile technology at Thomson Reuters, said, “This new team brings strong experience in end-to-end mobile development capabilities from user experience and design through to product realization and platform services.

“As we move forward, we will have a greater ability to develop foundational mobile capabilities that build significant brand value in our mobile product portfolio.”

DN Capital, which is based out of London and California, focuses investments on digital media, e-commerce and software companies.

It has previously bought stakes in companies including Shazam, Endeca Technologies and Datanomic, with the last two being sold to Oracle.

In February DN Capital joined Acton Capital Partners and High Tech Gründerfonds to injected a high seven-figure sum into online baby products shop windeln.de.

The trio, who are all existing investors in the company, were convinced to hand over more cash thanks to a strong 2011 which saw the business’s monthly turnover climb to €1.5m.

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