Nice win for DN Capital today. Apsmart, a London-based mobile platform and product development firm that was majority owned by the VC has been acquired by Thomson Reuters. Terms were not disclosed.
Thomson Reuters plans to use the startup to provide its customers with mobile solutions with expert-enriched content, news and other features those suited-up Reuters users like. Reuters has been somewhat left behind in the mobile apps stakes so this acquisition should power its new direction.
Founded in 2009 by Rahul Powar, creator of the first Shazam iPhone application, Apsmart has gained a reputation for data-driven apps for iOS and Android devices.
Powar becomes the new head of mobile application development at Thomson Reuters. (He was formerly a lead developer at Shazam).