Digital advertising firm Affle (India) on Thursday said it will acquire Latin America-based mobile marketing firm Jampp. The company, however, did not disclose the financial details of the transaction.
In a regulatory filing the company said that Affle (India) Ltd through its subsidiaries, has approved 100% acquisition of Jampp, a leading programmatic mobile marketing company. Jampp is a global platform that started in 2013 in Latin America (LATAM) and its largest teams continue to be based there.
Shares of Affle (India) were trading over 1% higher at around ₹5,300 apiece in Thursday’s early deals on the BSE.
“We see a lot of complementary strengths for our platforms… We also see a lot of synergies in the market focus for Affle and Jampp, and believe that this acquisition will allow us to scale our business in fast-growing markets like the US and LATAM,” Anuj Khanna Sohum, the Chairman, MD and CEO at Affle said.
Affle said Jampp’s programmatic mobile advertising platform is used by leading app marketers to acquire new users and also to drive repeat usage and transactions with existing users.
Diego Meller, Co-CEO and Co-Founder of Jampp said this deal will strategically strengthen its technology, accelerate growth and position them to achieve a greater global scale.
Further, Affle said it will also hike its stake in indigenous social keyboard provider Bobble AI to 17.72%.
“This announcement comes together with Affle entering into definitive agreements to increase its strategic ownership in Bobble AI (Talent Unlimited Online Services Private Limited) to 17.72 per cent as on date,” Affle said. In August 2020, Affle had announced an 8% stake acquisition in Bobble AI for ₹19.8 crore.