Affle, India-based consumer intelligence company that Microsoft has made an investment into, shared that it has acquired Shoffr, a Singapore-based O2O platform in a cash-and-stock deal. Affle buys the company’’s business, brand name, intellectual property rights, business relationships, assets, and employees of Shoffr, said a source.
The deal is effective February and no financial terms are available, as reported by The Economic Times.
Shoffr seeks to convert online engagements of consumers into in-store walk-ins and transactions by displaying offline retail stores’ inventories online via API and programmatic links. It also provides catalogue and order management services.
Shoffr would make Affle’s third acquisition in the past year, following the buyout of retargeting marketing tech platform startup Vizury in September for about US$10 million, and Markt in March last year, to expand its O2O commerce business.
Affle’s main operations are based out of Singapore and Gurugram. A source said that the firm is going to announce the IPO timelines soon.
Affle Holdings, the Singapore-based parent firm, has been backed by the likes of Microsoft, D2C , Itochu, Centurion Investment Management, and Bennett Coleman & Co.
Image Credit: Shoffr