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Affle 3i Arm to Acquire Ad Monetization Platform AdColony Assets

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Affle MEA, a step-down subsidiary of Affle 3i (NSE:AFFLE, BOM:542752), has agreed to acquire ad monetization platform, AdColony Assets, from US-based Digital Turbine for $4.7 million, according to a Saturday filing to the Indian stock exchanges.

Affle's shares were up over 1% in early trade on Monday.

Under the pact, Affle MEA will acquire all the strategic assets of AdColony, including the AdColony SDK for iOS and Android devices, a technology platform, existing integration with in-app publishers and mediation platforms, the brand name, the domain, and the goodwill.

The transaction is expected to be completed in seven days.

The acquisition will help Affle MEA to increase its number of consumer touchpoints, which will improve the audience intelligence of the company's consumer platform and drive conversions for advertisers.

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