New Delhi: Digital advertising firm Affle announced on Thursday that it will acquire Latin American mobile marketing firm Jampp. However, the company did not disclose the financial details of the deal.
In a regulatory filing, the company said Affle (India) Ltd, through its subsidiaries, has approved to acquire 100% 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.
“We see many complementary strengths for our platforms...we also see many synergies in the market focus for Affle and Jampp, and believe that this acquisition will allow us to expand our business in fast-growing markets such as the US and LATAM,” said Anuj Khanna Sohum, the Chairman, MD and CEO at Affle said.
Affle said Jampp's programmatic mobile advertising platform is being used by major app marketers to gain new users and also to increase repeat use and transactions with existing users.
This deal will strategically strengthen its technology, accelerate growth and position them to achieve a greater global scale, said Diego Miller, co-CEO and co-founder of Jampp.
In addition, Affle said it will also hike its stake in indigenous social keyboard provider Bobble AI to 17.72 percent.
“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 percent to date,” Affle said.
In August 2020, Affle announced the acquisition of an 8% stake in Bobble AI for Rs 19.8 crore.
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