Affle gains as Singapore arm to acquire Jampp

Affle (India) gained 1.85% to Rs 5,339 after the company through its subsidiaries announced that it has approved 100% acquisition of Jampp, a leading programmatic mobile marketing company.

The Board of Directors of Affle International Pte.., a wholly-owned Singapore subsidiary of the company has today approved 100% acquisition of Jampp (Ireland) and its subsidiaries (Jampp). Further, Affle MEA FZ-LLC, a subsidiary of Affle International Pte, has entered into an Intellectual Property Purchase Agreement to acquire 100% Tech IP assets of Jampp and Affle International Pte. is executing the relevant share purchase agreements to effect the 100% acquisition of Jampp.

Jampp is the programmatic mobile advertising platform of choice for many of the fastest-growing mobile companies worldwide. Jampp's programmatic mobile advertising platform is used by leading app marketers to acquire new users and also to drive repeat usage and transactions with existing users.

Affle will pay a total consideration of $41.3 million, (including the contingent incremental consideration of $15 million to be paid over a period of 3 years). The company will acquire 100% equity and Tech IP assets ownership.

Affle said the acquisition is strategic as it complements company's platforms, business & culture and offers a strategic market mix to achieve greater scale in LATAM, US and other global markets. It further strengthens company's CPCU business model, enabling ROI-driven app engagements for the advertisers globally.

Commenting on this development, Anuj Khanna Sohum, chairman, MD and CEO said We see a lot of synergies in the market focus for Affle and Jampp, and believe that this acquisition will allow us to scale our business in fast-growing markets like the US and LATAM.

Further, Affle (India) also entered into a definitive agreement to subscribe to equity shares of Bobble AI and acquire 1,674 fully paid-up CCPS (Series C1) for a consideration of Rs 22 crore. Pursuant to the investment, total holding of the company in Bobble AI shall be 17.72% (as on date) on a fully-diluted basis.

Affle (India) is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising.

Powered by Capital Market - Live News