In a BSE filing after market hours yesterday 28 February 2020, Affle (India) said Affle International, a wholly owned Singapore subsidiary of the company has entered into 3 definitive Share Purchase Agreements to acquire Mediasmart Mobile S.L., and Affle MEA FZ-LLC, a step down subsidiary of the company has entered into an Assets Purchase Agreement to acquire all Tech IP assets of Mediasmart Mobile S.L. The agreements envisages acquisition of net assets of Mediasmart Mobile S.L. as on 1 January 2020.
Mediasmart is a mobile advertising technology company. It provides a self-serve mobile programmatic platform with unique incremental impact measurability for Proximity and App marketing campaigns.
As per the agreement, 94.78% shares are to be transferred on or before 31 March 2020 and the balance 5.22% shares to be transferred on or before 31 March 2021.
A total consideration of Euro 5.12 million including contingent consideration will be paid for the acquisition of 100% shares and economic rights of employees (subject to certain performance conditions over 4 years period and also subject to certain closing adjustments). The total consideration also includes the payments to employees (other than economic rights of employees) amounting up to Euro 0.62 million, to be paid over a period of 4 years.
The share price fell 13.80% to close at Rs 1794.60 on Friday, 28 February 2020.
Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagement, acquisitions and transactions through relevant mobile advertising.
