The firm will initially acquire 66.67% equity ownership in Appnext Singapore for US $17.25 mn
Consumer intelligence platform Affle India Limited, through its subsidiaries Affle has announced the signing of definitive agreements to acquire full control of Appnext Pte. Ltd., Singapore and 100% IP of Appnext app discovery and recommendation platform with immediate effect. As per the agreement, Affle will initially acquire 66.67% equity ownership in Appnext Singapore for US $17.25 mn.
The company will have an option of acquiring non voting shares and 5% of Appnext Singapore within 3 years and 5 years respectively, upon attainment of mutually agreed growth targets. According to Anuj Khanna Sohum, chairman, MD and CEO at Affle, the acquisition is further set to boost Affle’s next phase of growth journey. “Affle2.0 will focus on building sustainable market leadership in India as well as enhancing our competitive advantage globally through our technology innovations. The Appnext platform transforms ads into app recommendations as a service for consumers and thus strengthens our CPCU business model by enabling greater ROI for advertisers,” he added further.
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For Elad Natanson, founder, Appnext, over the years, the company has built a robust platform that is deployed by leading global OEMs, on-device partners and thousands of apps. “India and SEA are our biggest business markets. This deal would allow us to further strengthen our position and provide us a greater platform for global growth,” he explained.
Founded in 2005, Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant Mobile Advertising. The platform aims to enhance returns on marketing investment through contextual mobile ads and also by reducing digital ad fraud. While Affle’s consumer platform is used by online and offline companies for measurable mobile advertising, its enterprise platform helps offline companies to go online through platform-based app development, enablement of O2O commerce and through its customer data platform.