Digital Turbine (NASDAQ:APPS) is set to expand its global presence through a strategic alliance with Xiaomi (OTC:XIACF)'s International Internet Business Department. The collaboration announced on Tuesday, aims to broaden the reach of Digital Turbine's app recommendation technology, which is already in use on more than 800 million devices globally. This partnership is expected to bring a significant boost to Digital Turbine's market visibility, customer acquisition, and revenue generation, given Xiaomi's prominent position in the Technology Hardware, Storage, and peripherals industry, as per InvestingPro Tips.
The partnership will strengthen Digital Turbine's relationship with Xiaomi, a leading Android phone manufacturer. It is expected to present worldwide users with an array of apps from top publishers through premium app recommendations. Matt Gillis of Digital Turbine and Eugene Lu of Xiaomi anticipate improved connectivity between valuable applications and Xiaomi users as a result of this move.
Xiaomi, a company that holds more cash than debt on its balance sheet according to InvestingPro Tips, is a pioneer in consumer electronics and smart manufacturing. Known for its smartphones and smart hardware integrated with an Internet of Things (IoT) platform, Xiaomi is forecasted to see growth in its net income this year. This financial stability and growth prospect make it a valuable partner for Digital Turbine.
Through partnerships such as these, Digital Turbine enhances market visibility, customer acquisition, and revenue generation for its partners by connecting them to a broader audience across various devices. The company, with a market cap of 41.9B USD and a P/E ratio of 31.4 as per InvestingPro Data, is trading at a low P/E ratio relative to near-term earnings growth, making it an attractive investment.
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