The Board of Directors of Affle International Pte. Ltd., a wholly-owned Singapore subsidiary of Affle (India) Limited has today approved 100% acquisition of Jampp (Ireland) Limited and its subsidiaries ("Jampp"). Further, Affle MEA FZ-LLC, a subsidiary of Affle International Pte. Ltd., has today entered into an Intellectual Property Purchase Agreement to acquire 100% Tech IP assets of Jampp and Affle International Pte. Ltd. is executing the relevant share purchase agreements to effect the 100% acquisition of Jampp.
Jampp is a global programmatic marketing company that started in 2013 in Latin America (LATAM) and its largest teams continue to be based there.
Jampp's programmatic mobile advertising platform is used by app marketers to help them acquire new users and also to drive repeat usage and transactions with existing users. Its focus on leveraging unique contextual and behavioural signals to deliver in-app engagements has helped it to drive incremental growth for marketers in North America, LATAM, APAC and other global markets.
The total Consideration for the above acquisition is USD 41.3 million, (including the contingent incremental consideration of USD 15.0 million to be paid over a period of 3 years).
This acquisition is strategic for Affle as it complements company's platforms, business & culture and offers a strategic market mix for Affle to achieve greater scale in LATAM, US and other global markets.
It further strengthens Affle's CPCU business model, enabling ROI-driven app engagements for the advertisers globally.
Shares of Affle (India) Limited. was last trading in BSE at Rs. 5242.25 as compared to the previous close of Rs. 5371.35. The total number of shares traded during the day was 2,754 and the deliverable quantity was 2754 shares.
The stock hit an intraday high of Rs. 5475 and intraday low of Rs. 5211.