Affle (India) Limited, the leading consumer intelligence technology company, announced the signing of a definitive agreement to acquire Spain headquartered Mediasmart.
The stock is currently trading at Rs1,872.60, up by Rs78 or 4.35% from its previous closing of Rs1,794.60 on the BSE.
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.
Anuj Khanna Sohum, the Chairman, MD and CEO at Affle said “We are excited to announce our 1st acquisition in Europe and welcome the Mediasmart team on-board at Affle. Mediasmart has the perfect team, culture and tech platform for Affle to build greater strategic presence in Europe, US & Latin America. Their proximity marketing programmatic platform strengthens our omnichannel platform to enable marketers to drive incremental online and offline conversions in both developed and emerging markets.”
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