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Affle (India) rose 1.01% to Rs 3,783.90 after the company through its wholly-owned step down subsidiary entered into a definitive Business Transfer Agreement to acquire the Business Assets of Discover Tech.
The company, through its wholly-owned step down subsidiary Affle MEA FZ-LLC (AMEA, a subsidiary of Affle International), has entered into a definitive business transfer agreement to acquire the business assets of Discover Tech, a company registered in Israel. The fixed consideration for business transfer is $1.15 million in cash and a maximum success fee of $3.37 million will be paid over a period of a maximum of four years. The company expects to complete the transaction in 90 days.