Affle India up nearly 3% on deal to buy mobile platform YouAppi

Affle 3i

24/05/2023 08:43

** Shares of Affle (India) Ltd  AFFL.NS  rise as much as
2.70% to 933 rupees 
    ** Technology firm says its Singapore unit - Affle
International - entered into a definitive share purchase
agreement to buy 100% stake in mobile marketing platform YouAppi
Inc, U.S.
    ** Acquisition to be done for a total consideration of $45
mln, including an upfront consideration of $35.44 mln
    ** YouAppi's unique gaming-focused mobile advertising
platform could provide strategic benefits: AFFL
    ** Adds YouAppi will be further strengthened as a consumer
platform business to unlock greater consumer interest in gaming
    ** Acquisition to be completed within 60 days: AFFL
    ** Trading volume is 605,038 shares as of 1:08 p.m. IST,
nearly twice the 30-day avg - Refinitiv data
    ** Of the 13 analysts tracking AFFL, 12 maintain "buy" and
one suggests "sell"; median TP is 1,250 rupees 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))