US-based app search technology provider Quixey has agreed to acquire Dexetra, the India-based developer of an intelligent dialling app, for between $10m and $15m, the Economic Times reported on Friday.
The deal would give an exit to investors including Qualcomm Ventures, the corporate venturing unit owned by wireless technology company Qualcomm, One97MobilityFund, the strategic investment fund operated by mobile internet company One97 Communications, and Sequoia Capital.
Qualcomm and Sequoia invested between $1m and $2m for Dexetra’s series A round in January 2013, while One97 seeded the company in November 2011. Dexetra has created an app that uses machine learning to make dialling phone numbers faster.
Quixey operates a search engine for apps and is backed by investors including e-commerce company Alibaba. It is using the acquisition as its entry point into India, one of the world’s most rapidly growing smartphone markets.