mocoNews reports that Financial Times has acquired web and application development firm Assanka.
The 12-person shop had developed Financial Times HTML5 based web app.
Back in August 2011, Financial Times apps were removed from the App Store as it refused to get buckled down by Apple’s In-App Subscription policy.
Since all In-App Subscriptions go through Apple, it meant that publishers wouldn’t get all the information about subscribers such as demographic information used by magazines and newspapers to sell advertising. This pinched FT more than Apple’s 30 percent cut, since they claim their subscription model centers around owning data about its readers.
So FT decided to ditch iOS apps and launch a HTML5 web app. In September, Financial Times had claimed that the mobile web app has been more popular than the iOS apps and was already used by 700,000 users.
So it made sense for FT to buy the web and application development firm that developed their popular web app, which is apparently also developing their Android app.
Congratulations to Assanka on the acquisition.