Affle signs agreement to acquire Appnext

Affle Limited informed the bourses about the signing of definitive contracts to acquire full control of Appnext, Singapore as well as 100 per cent IP of Appnext app discovery and recommendation platform. This process will be conducted step-by-step wherein the company will first acquire one-third equity ownership in Appnext and eventually, upon attainment of mutually agreed growth targets, will acquire 100 per cent equity ownership.

Appnext is the leading independent app discovery and recommendation platform functioning to provide personalized app recommendations to global mobile users. Employing its proprietary 'Timeline' technology, Appnext forecasts apps that its users are likely to use next. With 300 million daily active users, over 20 on-device daily interactions through strategic OEM partnerships and over 60,000 apps, Appnext delivers over 4 billion app recommendations daily.

Affle's platform helps to enhance the return on marketing investment via contextual mobile ads and by reducing digital ad fraud. Its consumer platform aids online & offline companies in measurable mobile advertising and assists offline companies in going online through platform-based app development.

The acquisition of Appnext will have synergetic effects as Affle looks for potential targets. Earlier in February, Affle signed a definitive agreement to acquire Mediasmart, a self-serve mobile programmatic and proximity marketing platform. Such acquisitions serve to strengthen Affle's cost per converted user (CPCU) business model. Over 97.2 per cent of its revenue is from the consumer platform driven by the cost per converted user (CPCU) model.

The stock closed at 1516.95, up by 2.39 per cent or Rs 35.45 per share. The intraday high is Rs 1555.55 and intraday low is Rs 1480.