SINGAPORE - Singapore-based online to offline (O2O) platform, Shoffr, has been acquired by Microsoft-backed consumer intelligence group Affle for an undisclosed sum.
As part of the deal effective Feb 19, Shoffr's business, brand name, intellectual property rights, business relationships, technical information, assets and employees have all been transferred to the Affle group.
Shoffr CEO and founder Abhishek Dadoo has also been appointed as director for the omni-channel platform of Affle's subsidiary in Singapore - Affle International.
Shoffr seeks to convert online engagements into in-store transactions by displaying offline retail stores inventories online via API (application programming interface) and programmatic links. It also provides catalogue management and order management services with measurable ROI (return on investment) to retail brands, Affle said in a press statement last Friday.
The group added that the acquisition will strengthen its consumer and enterprise platforms by providing an "integrated consumer journey", and allow brands to "transparently attribute the impact of digital advertising on in-store footfalls and transactions".
The deal marks Affle's third acquisition over the last 12 months. In September last year, the group bought out re-targeting marketing tech platform Vizury for an estimated US$10 million; as well as Markt in March, in a bid to expand its O2O commerce business.
Anuj Khanna Sohum, chairman, MD and CEO of Affle said: "With increasing influence of smartphone-based engagements on the retail purchase decision, we believe that Shoffr complements our existing omni-channel platform to enhance the ROI for brands through both online and offline transactions."
Separately, Mr Dadoo said: "Shoffr's online to offline capability to drive in-store traffic is used by several retail brands in India and South-east Asia, and we look forward to growing Shoffr into an omni-channel platform by leveraging synergies with the Affle group."