Affle (India) hits upper circuit on acquisition of Jampp
Affle (India) Ltd had stated that the total consideration of the transaction is $41.3 million (about Rs 307 crore)
Shares of Affle (India) hit the upper circuit on Friday after the company on Thursday said it has completed the acquisition of Jampp, a global programmatic mobile marketing company.
In June, Affle had announced the acquisition of Jampp (Ireland) Ltd and its subsidiaries. The scrip jumped 5% to Rs 4,419 in the early trade, while the benchmark BSE Sensex was down 88 points, or 0.17%, at 52,230
Affle MEA FZ-LLC, a subsidiary of Affle International Pte Ltd, had also entered into an Intellectual Property Purchase Agreement to acquire 100% tech IP assets of Jampp.
“Affle (India) Limited through its subsidiaries (Affle), today announced the completion of acquisition to acquire full control, tech IP assets and 100 per cent ownership of Jampp…this marks the successful completion of its biggest acquisition till date,” a statement said on Thursday.
This acquisition carries great strategic merit as it strengthens Affle’s CPCU (Cost Per Converted User) business model and enables it to expand into fast-growing markets like the US and LATAM (Latin America), while further consolidating its position in APAC (Asia Pacific), it added.
“The completion of Jampp acquisition marks a significant milestone in our growth journey…This transaction significantly enhances our market reach, scale, talent and strengthens the CPCU business,” Affle Chairman, MD and CEO Anuj Khanna Sohum said.
In a regulatory filing on June 9, Affle (India) Ltd had stated that the total consideration of the transaction is $41.3 million (about Rs 307 crore). This includes contingent incremental consideration of $15 million to be paid over a period of three years.
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.