Microsoft backed Affle acquires Singapore based online-to-offline platform Shoffr

MUMBAI: Microsoft-backed consumer intelligence company Affle has acquired Singapore based online-to-offline (O2O) platform Shoffr in a cash-and-stock deal. The acquisition includes the business, brand name, intellectual property rights, business relationships, assets and employees of Shoffr, people in the know, said. The deal is effective February, one of them said.

Financial terms weren’t available. Affle India and Shoffr did not respond till press time Wednesday to emails seeking comment.

Shoffr helps convert online engagements of consumers into in-store walk-ins and transactions. It displays offline retail stores’ inventories online via API and programmatic links and provides catalogue and order management services.

This is Affle’s third acquisition in the past 12 months. In September last year, Affle acquired the brand, retargeting and push notification businesses and platform of marketing technology startup Vizury in an allcash deal estimated at about $10 million. In March 2018, it bought ‘Markt’, a platform to expand its O2O commerce business.

Affle has its main operations based out of Singapore and Gurugram and had gotten the market regulator’s approval to list its Indian unit in October. The firm is likely to announce the IPO timelines soon, a person aware of the development said. As per Affle India’s IPO draft papers, the offer would involve ?90 crore of freshly issued shares and sale of 55 lakh shares by existing shareholders. Affle Holdings, the Singapore-based parent firm, counts Microsoft, D2C , Itochu, Centurion Investment Management and Bennett Coleman & Co, which publishes The Economic Times, as investors.