Affle (India) is a bright star on the bourses this morning. The stock has shown a gain after two consecutive days of fall. It opened 2% higher at Rs.1832 and rose over 8.5% to an intraday high at Rs.1949.15. Its 52-week high stands at Rs.2296.
The company, providing consumer intelligence technology, announced the signing of a definitive agreement to acquire Spain headquartered Mediasmart, a self-serve mobile programmatic and proximity marketing platform.
Mediasmart provides advertisers, trading desks and agencies an integrated mobile advertising platform with unique incremental impact measurability for Proximity and App marketing campaigns.
Mediasmart’s Proximity marketing solutions allow it to deliver location targeted campaigns with real time footfall tracking and offline attribution. It thus enables advertisers who sell offline to isolate, attribute and measure the incremental impact of proximity driven mobile advertising. It also helps App marketers to measure and grow the incremental ROI metrics for their mobile advertising campaigns.
This acquisition carries a great strategic merit as it strengthens Affle’s 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.