Affle International to acquire 28.33% stake in Appnext for USD 8.21 mn

7 Feb 2022 , 04:17 PM

Affle International Pte. Ltd.(AINT), a wholly-owned Singapore subsidiary of Affle India Limited has entered into a definitive Share Purchase Agreement to acquire 28.33% shares of Appnext Pte. Ltd for a consideration of USD 8.21 million including the contingent incremental consideration of USD 4.75 million, to be paid over a period of 18 months.

The company on June 8, 2020, informed about acquiring 66.67% shares of Appnext and obtaining options to acquire the remaining 28.33% shares and 5% shares of Appnext, within 3 years and 5 years respectively.

Affle India Ltd ended at Rs1,293.55 per share up by Rs33.85 or 2.69% from its previous closing of Rs1,259.70 per share on the BSE.