Affle (India) Ltd has decided to acquire Jampp, an Ireland-registered programmatic mobile marketing company, to expand its business in the US and Latin America.
The local unit of Microsoft-backed and Singapore-based mobile marketing firm Affle Holdings said it will purchase Jampp (Ireland) Ltd and its subsidiaries as well as their intellectual property assets for a total of $41.3 million in cash.
The amount includes a contingent incremental payment of $15 million to be paid over a period of three years.
Jampp recorded consolidated revenue of $29.5 million for the year ended December 31, 2020, compared with $35.2 million for 2019 and $25.3 million the year before.
Jampp started in 2013 in Latin America, and its largest teams continue to be based there. Its programmatic mobile advertising platform is used by app marketers in North America, Latin America and Asia Pacific to acquire new users and to drive repeat usage and transactions with existing users.
“We see a lot of synergies in the market focus for Affle and Jampp, and believe that this acquisition will allow us to scale our business in fast-growing markets like the US and Latin America,” Affle chairman Anuj Khanna Sohum said in a statement.
Diego Meller, co-CEO and co-founder of Jampp, said the deal will strengthen the company’s technology, accelerate growth and position it to achieve a greater global scale.
Separately, Affle agreed to increase its stake in Bobble AI, operated by Talent Unlimited Online Services Pvt Ltd, to 17.72%. It had bought an 8% stake in Bobble AI in August last year for Rs 12.1 crore. It is purchasing the additional stake for Rs 22 crore.
Bobble AI is a conversation media platform that offers an Indic keyboard with speech-to-text capabilities. The keyboard is accessible in about 100 languages, including 23 Indian languages.
Affle India listed in Mumbai in 2019. It is almost two-thirds owned by Affle Holdings and chairman Sohum. Affle Holdings’ investors include Microsoft, India media house Bennett, Coleman & Co Ltd, Japan’s Itochu and D2C, a joint venture of NTT DoCoMo, Dentsu and NTT Advertising.