Affle to acquire 8.0 per cent ownership in Bobble AI

Affle has entered into a definitive share subscription agreement as well as into shareholders’ agreement to acquire 8.0 per cent ownership in Talent Unlimited Online Services Private Limited (Bobble AI) incorporated in India.

The company has also secured an option to own and acquire incremental ownership on the attainment of certain key performance targets within the next three years.

Prior to Affle’s investment in Bobble AI, its major investors were Xiaomi and SAIF Partners. Post this investment, the shareholding of major investors in Bobble AI, i.e. Xiaomi would have 27.60 per cent and that of SAIF Partners, it would be 19.42 per cent.  

Bobble AI is a strategic investment for Affle as it owns and operates ‘Bobble Indic Keyboard’, an indigenous social keyboard with investments from Xiaomi and SAIF Partners.

Bobble Indic Keyboard includes speech-to-text capabilities and is accessible in multiple Indian languages. It is also a pre-loaded default keyboard for Xiaomi across multiple devices in India, thereby, enhancing Affle’s vernacular strategy and OEM partnerships.

The stock closed at 2148.85, up by 1.76 per cent or Rs 37.10 per share. The intraday high is Rs 2198.30 and the intraday low is Rs 2100.