/ -- Affle's 3rd acquisition in the last 12 months
Affle (India) Limited ("Affle") announced today that its Singapore subsidiary, Affle International Pte. Ltd. ("Affle International"), has acquired Shoffr, a Singapore-based online to offline (O2O) platform that converts online consumer engagements into in-store walk-ins and transactions. As part of the transaction effective 19 February 2019, Shoffr Pte. Ltd.'s business, brand name, intellectual property rights, business relationships, technical information, assets and employees have been transferred to Affle Group.
Shoffr enables online to offline consumer journeys by converting online engagements into in-store walk-ins and transactions. It reveals offline retail stores inventories online via API and programmatic links and provides catalog management, order management with measurable ROI to retail brands.
This acquisition will strengthen the Affle group's Consumer & Enterprise platforms by providing an integrated consumer journeys and allow brands to transparently attribute the impact of digital advertising on in-store footfalls and transactions.
Commenting on this acquisition, Anuj Khanna Sohum, the Chairman, MD and CEO of Affle said, "We are excited to announce the acquisition of Shoffr, which is our third acquisition after the Vizury Commerce Business and Markt in the last 12 months. We welcome Shoffr's team on-board. With increasing influence of smartphone-based engagements on the retail purchase decision, we believe that Shoffr complements our existing Omnichannel Platform to enhance the ROI for brands through both online and offline transactions."
Sharing his thoughts about this development, Abhishek Dadoo, CEO & Founder of Shoffr Pte. Ltd., who has now joined Affle International as the Director, Omnichannel Platform, said, "We are glad to commence on this exciting journey together with the Affle group. Shoffr's online to offline capability to drive in-store traffic is used by several retail brands in India & South East Asia and we look forward to growing Shoffr into an omni-channel platform by leveraging synergies with the Affle group. We believe that we will be able to see our vision for Shoffr, to deliver and measure end-to-end consumer journeys come to life."
A recent report* by Frost & Sullivan India Pvt. Ltd. ("Frost & Sullivan") states that e-commerce comprises one-tenth of the total global retail sales at USD 2.29 trillion. The report further states that the primary challenge for brands and retailers (both offline and online) is how to seek and target the right customer through digital avenues. With this acquisition, Affle will aim to leverage this market opportunity.
This acquisition comes after the Affle group's acquisition of the Vizury Commerce Business in September 2018 and Affle Global Pte. Ltd.'s acquisition of the Markt in March 2018, which was consequently acquired by Affle International when it had acquired Affle Global Pte. Ltd.'s business effective July 1, 2018.
About Affle Group
We are a global technology business. We have two business segments: (a) our Consumer Platform, which comprises (1) our proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising (the "Affle Consumer Platform"); and (2) our retargeting media business for e-commerce companies and our push notifications offerings for e-commerce companies on a software as a service model (the "Vizury Commerce Business" and together with the Affle Consumer Platform, the "Consumer Platform") and (b) our Enterprise Platform, which primarily provides end-to-end solutions for enterprises to enhance their engagement with mobile users.
The Affle Group comprises Affle, Affle International and PT Affle Indonesia.
*(Source: "Industry Insights on the Advertising and Ad Tech Market" dated July 12, 2018 prepared by Frost & Sullivan).
Disclaimer - Affle (India) Limited proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares ("Equity Shares") in India and has filed a draft red herring prospectus dated July 14, 2018 ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on SEBI website at http://www.sebi.gov.in as well as on the website of the book running lead managers i.e., ICICI Securities Limited at http://www.icicisecurities.com and Nomura Financial Advisory and Securities (India) Private Limited at http://www.nomuraholdings.com/company/group/asia/india/index.html, and the websites of BSE Limited and National Stock Exchange of India Limited at http://www.bseindia.com and http://www.nseindia.com,respectively. Investors should note that investment in Equity Shares involves a high degree of risk and for details relating to the same, see "Risk Factors" of the Red Herring Prospectus when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement has been prepared for publication outside the United States and may not be released in the United States. This announcement does not constitute an offer of Equity Shares for sale in any jurisdiction, including the United States, and the Equity Shares may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. Any public offering of the Equity Shares to be made in the United States will be made by means of a prospectus that may be obtained from Affle and that will contain detailed information about Affle and its management, as well as financial statements. However, the Equity Shares are not being offered or sold in the United States.
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