Private equity firms acquire popular app for Muslims

  • CMIA Capital Partners and Affin Hwang Asset Management (AHAM) have acquired a controlling stake in Singapore-based Bitsmedia, the parent company of Muslim prayer app Muslim Pro.
  • Bitsmedia CEO discloses the sales price at “an eight-digit figure in US dollars, for an 85 to 95 percent stake.”
  • The app provides Muslims with accurate prayer times regardless of where they are in the world and other features that help practice the Islamic faith.
  • THe company Muslim Pro claims to have more than 10 million monthly active users on average now, and 2 million daily active users. It’s available for iOS and Android.
  • It ranks among the top 10 highest grossing lifestyle apps, in countries like Indonesia and Malaysia.
  • It’s among the top 10 lifestyle apps in 13 countries globally, including France, Tunisia, and Qatar. While other prayer apps exist in different markets

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