Samsung recently released official Android 4.1.2 Jelly Bean update with firmware build number I8160XXMF2 for the international version of Galaxy Ace 2 (GT-I8160). The new official firmware is currently available for the Galaxy Ace 2 users in most Southeast Asian countries.
Samsung Galaxy Ace 2 I8160 users who have already updated their devices with Android 4.1.2 XXMF2 Jelly Bean, may root their devices using the tutorial below.
Disclaimer: Rooting voids the warranty of your device. We and the developer of this rooting procedures shall not be held responsible if any undesirable outcomes may happen to your device. use of this root guide is solely at your own risk!
Pre-requisites
1. Install USB Driver for Samsung Galaxy Ace 2 on the computer.
2. Enable USB Debugging Mode on the phone by navigating to Settings >> Developer Options.
3. Make a backup of all your important data before following the guide.
4. The Galaxy Ace 2 should be factory unlocked and not locked to any particular carrier.
5. Ensure the battery of the phone is charged more than 80 per cent.
6. The Root Package file works only on Samsung Galaxy Ace 2 I8160. Applying this to any incorrect variant might brick the device. Verify the model number of the Galaxy Ace 2 by navigating to Settings >> About Phone.
File Required
1. Root Package for Galaxy Ace 2 I8160 (root.zip)
Steps to Root Galaxy Ace 2 I8160 Running on Android 4.1.2 XXMF2 Jelly Bean Firmware
Step 1: Connect the Galaxy Ace 2 to the computer using USB cable.
Step 2: Copy the root.zip file to the external SD card of your phone.
Step 3: Once the file transfer process is completed, switch off the phone and disconnect it from computer.
Step 4: Boot the device into stock recovery mode by pressing and holding Volume Up, Home, and Power buttons together. In recovery mode, use the Volume keys to toggle between options and Home/Power button to select the desired option.
Step 5: Select apply update from external storage then navigate to the root.zip file which was earlier copied to the SD card.
Step 6: Select the root.zip file and confirm installation.
Step 7: Once installation process is completed, return to main recovery menu and select Reboot System Now.
Samsung Galaxy Ace 2 I8160 running on Android 4.1.2 XXMF2 Jelly Bean firmware is now rooted successfully. You can now install any app that requires root permission. Verify the root status of the device by downloading Root Checker app from Google Play Store.
Note: Tested working on Galaxy Ace 2 I8160 with Android 4.1.2 XXMF2 Jelly Bean firmware, should work with other Jelly Bean firmware. Try it and let us know.
Thank's to all fellas at XDA who first tried out this rooting technique. This root method was originally posted via XDA-Developers original thread.
Click here to know How to Update Galaxy Ace 2 I8160 with official Android 4.1.2 XXMF2 Jelly Bean firmware.

Samsung Galaxy Ace 2 with model number GT-I8160 has received the latest Android 4.2.2 Jelly Bean update with firmware build number I8160XXNB1. The new official update is now available as an Over-The-Air (OTA) update as well as through Samsung KIES.
Firmware details
PDA: I8160XXNB1
CSC: I8160OXXNB4
MODEM: I8160XXNB1
Version: Android 4.1.2
Build date: Feb 10, 2014
Regions: Slovakia, Cyprus, Germany, Hungary, Nordic countries
Samsung Galaxy Ace 2 I8160 users who missed the OTA update notification or unable to access the update over Samsung KIES, can now download and install the same manually using our step-by-step guide.
Pre-requisites
1. Install USB Drivers for Samsung Galaxy Ace 2 on the computer.
2. Enable USB Debugging Mode on the phone by navigating to Settings >> Developer Options.
3. Make a backup of all your important data before following the guide.
4. Ensure the battery of the phone is charged more than 80 percent.
5. The Android 4.1.2 XXNB1 Jelly Bean firmware is compatible only with Samsung Galaxy Ace 2 (GT-I8160). Applying this to any incorrect variant might brick the device. Verify the model number of the Galaxy Ace 2 by navigating to Settings >> About Phone.
 Files Required

 1. Android 4.1.2 XXNB1 Jelly Bean Firmware (Mirror Link) for Galaxy Ace 2 I8160

Slovakia: I8160XXNB1_I8160TMSNB1_TMS.zip
Poland: I8160XXNB1_I8160OXXNB4_XEO.zip
Romania (Cosmote): I8160XXNB1_I8160COANC1_COA.zip
Germany (1 & 1): I8160XXNB1_I8160XEGNC1_XEG.zip
Austria (T-Mobile): I8160XXNB1_I8160MAXNB1_MAX.zip
Hungary (T-Mobile): I8160XXNB1_I8160TMHNC1_TMH.zip
Austria (Telering): I8160XXNB1_I8160TRGNB1_TRG.zip
Poland (T-Mobile): I8160XXNB1_I8160TPLNB1_TPL.zip
Open Austria: I8160XXNB1_I8160ATONB2_ATO.zip
Hungary (Telenor): I8160XXNB1_I8160PANNB1_PAN.zip
Baltic: I8160XXNB1_I8160OXXNB4_SEB.zip
Cyprus (Cytamobile Vodafone): I8160XXNB1_I8160OXXNB4_CYO.zip
Slovakia: I8160XXNB1_I8160OXXNB4_XSK.zip
Germany: I8160XXNB1_I8160OXXNB4_DBT.zip
Nordic Countries/Finland: I8160XXNB1_I8160OXXNB4_NEE.zip
Hungary: I8160XXNB1_I8160OXXNB4_XEH.zip
2. Odin 3.07
Steps to Update Galaxy Ace 2 I8160 with Android 4.1.2 XXNB1 Jelly Bean Firmware
Step 1: Extract Firmware zip file using WinRAR/7-Zip/WinZip or any other extracting tool, you will get a .tar.md5 file and some other files (optional).
Step 2: Extract Odin zip file and you will get Odin3 v3.07.exe along with few other files.
Step 3: Switch off the Galaxy Ace 2.
Step 4: Boot the device into Download Mode by pressing and holding Volume Down, Home and Power buttons together until a construction Android robot icon with a warning triangle appears on screen. Now press the Volume Up button to enter Download Mode.
Step 5: Run Odin on the computer as an Administrator.
Step 6: Connect the Galaxy Ace 2 to the computer using USB cable while it is in the Download Mode. Wait until Odin detects the device. When the device is connected successfully, the ID: COM box will turn to light blue with the COM port number. Additionally, the successful connected will be indicated by a message saying Added.
Step 7: Select the following files in Odin from extracted I8160XXNB1 firmware folder:

• Click the PDA button and select the .tar.md5 file.
• Click the Phone button and select file with MODEM in its name. Ignore if there is no such file.
• Click the CSC button and select file with CSC in its name. Ignore if there is no such file.
• Click the PIT button and select the .pit file. Ignore if there is no such file.

Step 8: In Odin, enable Auto Reboot and F. Reset Time checkboxes. Also, ensure the Re-Partition checkbox is chosen only if a .pit file was chosen in the previous step.
Step 9: Verify everything suggested in Step 7 and Step 8 is done correctly. Then hit the Start button to begin the installation process.
Step 10: Once the installation process is completed, your phone will restart and soon you will see a PASS message with green background in the left-most box at the very top of the Odin. You can now unplug the USB cable to disconnect your device from the computer.
Samsung Galaxy Ace 2 I8160 should be now updated with official Android 4.1.2 XXNB1 Jelly Bean. Head over to Settings >> About Phone to verify the software version running on the device.
Note: If Galaxy Ace 2 I8160 stuck at booting animation after Step 10 then go to recovery mode (press and hold the Volume Up, Home and Power buttons together) and perform Wipe data/Factory Reset and Wipe Cache Partition task before selecting reboot system now function. In recovery mode use Volume keys to navigate between options and Power key to select the option. Please note, performing wiping task will erase your device internal memory data and not external SD card data.