Affle 3i Limited, through its wholly owned step-down subsidiary Affle MEA FZ-LLC, has entered into a definitive Asset Purchase Agreement to acquire AdColony Assets from Digital Turbine, Inc. listed on NASDAQ as APPS. The transaction involves the acquisition of strategic assets on a slump sale basis without any customer contracts.
The assets being acquired include the AdColony SDK for iOS and Android devices, the tech platform, existing integrations with in-app publishers and mediation platforms, the brand name, domain, and goodwill exclusively related to the assets. Affle MEA FZ-LLC has worldwide rights to use the assets.
AdColony is an ad monetisation platform that connects mobile publishers and advertisers within mobile advertising technology. The acquisition is aimed at strengthening Affle's consumer platform business. The AdColony SDKs integrated with the publisher ecosystem are expected to increase consumer touchpoints across the integrated consumer journey, which is anticipated to improve audience intelligence and drive conversions for advertisers. AdColony is a well-recognised brand with long-standing relationships that can help Affle strengthen its presence in developed markets. The asset purchase is expected to expand Affle's reach within the in-app publisher and mediation ecosystem.
The fixed consideration for the acquisition is USD 4.70 million, paid as upfront cash. The indicative completion timeline is seven business days from the signing of the agreement. Affle MEA FZ-LLC is a step-down subsidiary of Affle 3i Limited through Affle International Pte. Ltd.
The transaction is not a related party transaction, and Affle 3i Limited's promoters have no interest in the asset purchase. The acquisition has been conducted on an arm's length basis. No governmental or regulatory approvals are required for the transaction.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.