Picnic

MWM, a French mobile app publisher, has announced the acquisition of Picnic, a London-based startup specializing in a photo management application. This strategic move strengthens MWM's position in the consumer mobile application market and expands its ecosystem.

Summary of transaction details:

• Value: Undisclosed
• Sector: Software & SaaS
• Advisor: Not disclosed
• Key Entities: MWM (Acquirer), Picnic (Target)
• Location: London, UK (Target); France (Acquirer)

Note: The acquisition allows MWM to integrate Picnic's popular photo management app, which boasts over 2 million users and €4 million ARR, into its platform. This is expected to accelerate Picnic's user growth and feature development, including plans to evolve into a social network, aligning with MWM's broader strategy of expanding its portfolio of consumer mobile applications through external growth.