Affle, the leading consumer intelligence technology company, 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.
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 stronghold markets like Europe and US.
Commenting on this development, Anuj Khanna Sohum, the Chairman, MD and CEO at Affle said “We are excited to announce our 1st acquisition in Europe and welcome the Mediasmart team on-board at Affle. Mediasmart has the perfect team, culture and tech platform for Affle to build greater strategic presence in Europe, US & Latin America.”
Talking about it, Noelia Amoedo, the Chief Executive Officer at Mediasmart commented “We are thrilled to join forces with the Affle team to strategically strengthen our complementing platforms and to achieve greater global scale together. Over the last few years we have successfully re-modelled our tech differentiation around incrementality for app marketing and proximity marketing campaigns.”
Recently, Affle had announced the results for the third quarter and nine months ended December 31, 2019, in which Affle reported a robust performance for 9M FY2020 with a consolidated revenue of Rs. 253.8 crores, an increase in revenue by 34.3% y-o-y. For Q3 FY2020, consolidated revenue was at Rs. 94.5 crores, an increase of 27.4% y-o-y. The company generated operating cash flow of Rs. 36.2 crores in 9M FY2020, as per their press release.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.