Affle (India) jumps over 8% after it signs agreement to acquire Mediasmart

Since its listing, shares of the company have jumped 141 per cent (as of Friday's close - February 28, 2020) against its issue price.

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