Purported deal to be worth over $50 million

Sungy Mobile Limited, a China-based company behind the popular Go for Android apps, is reported to be buying out GetJar, one of the first app stores for mobile devices.

Sources have told Gigaom that the purchase price is over $50 million dollars, and expected to be announced next week.  

Sungy Mobile is said to have realized the need to provide app discovery to their customers, which number upwards of 325 million, and absorbing GetJar — who has been doing apps and discovery since 2004 — is a great way to do it.

A quick look at the GetJar: Paid apps for free application in Google Play shows that Go for Android branding is already in place, so we're pretty sure these two companies have been talking to each other for quite a while.

There's no indication how, if at all, this will affect users of Go for Android apps. Signs point to a Go appstore, but it's possible they have other plans for their new GetJar purchase.

Source: Gigaom