The company signed a definitive agreement to acquire Spain headquartered Mediasmart.
Affle India share price gained 8 percent intraday on March 2 after the company signed a definitive agreement to acquire Mediasmart.
The company signed a definitive agreement to acquire Spain headquartered Mediasmart, a self-serve mobile programmatic and proximity marketing platform.
This acquisition carries great strategic merit as it strengthens Affle’s CPCU based platform and business model for omnichannel advertisers, and also enables Affle to expand into newer developing markets like Latin America and in Mediasmart’s stronghold markets like Europe and US, the company said in a release.
Mediasmart provides advertisers, trading desks and agencies an integrated mobile advertising platform with unique incremental impact measurability for Proximity and App marketing campaigns, it added.
“We are excited to announce our 1st acquisition in Europe and welcome the Mediasmart team onboard at Affle. Mediasmart has the perfect team, culture and tech platform for Affle to build a greater strategic presence in Europe, US & Latin America," said Anuj Khanna Sohum, the Chairman, MD and CEO at Affle.
At 09:27 hrs, Affle India was quoting at Rs 1,915.00, up Rs 120.40, or 6.71 percent on the BSE.Subscribe to Moneycontrol Pro's Annual plan for Rs 399/- for the first year. Use coupon PRO2020 (Available on Web & Android only).
