Shares of Affle (India) climbed as much as 8.6 per cent to Rs 1,949 apiece on the BSE on Monday after the company announced it has signed a definitive agreement to acquire Spain-headquartered Mediasmart, a self-serve mobile programmatic and proximity marketing platform.
At 09:34 am, the stock was trading over 5 per cent higher at Rs 1,886 on the BSE. In comparison, the benchmark S&P BSE Sensex was trading over 1 per cent or 479 points higher at 38,753 levels.
The acquisition of Mediasmart carries a great strategic merit as it strengthens Affle’s cost per converted user (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 strong hold markets like Europe and US, the company said in its press release. READ MORE