Perion and Affle 3iL Ltd., a subsidiary of Affle International Pte. Ltd., have announced that they entered into a definitive agreement under which Affle will acquire Perion in an all-cash transaction. Upon closing, Perion will become a wholly-owned subsidiary of Affle and will continue to operate under the Perion brand.
Quick Intel
Affle will acquire Perion in an all-cash transaction, with shareholders receiving $11.70 per share.
The transaction represents an equity value for Perion of approximately $420 million.
The price represents a 34.5% premium to Perion's closing share price on October 30, 2026, the last trading day prior to the agreement.
The agreement includes a 40-day "go-shop" period expiring December 11, 2026, allowing Perion to solicit alternative proposals.
The transaction is expected to complete in early 2027, subject to Perion shareholder approval and Hart-Scott-Rodino waiting period requirements.
Upon completion, Perion ordinary shares will no longer be listed on Nasdaq or the Tel Aviv Stock Exchange.
As of September 30, 2026, Perion had cash, cash equivalents, short-term bank deposits and marketable securities of $228.3 million.
"Over the past several years, we have transformed Perion into a differentiated advertising technology company, driven by the strength of our team, technological innovation, and our focus on measurable business outcomes for advertisers," said Tal Jacobson, CEO of Perion. "Our agreement with Affle marks an important milestone for Perion. Affle has established a strong position in mobile performance, supported by an experienced team, global reach, and a focus on measurable results. We see significant potential in bringing these complementary capabilities together to create new opportunities for brands, agencies, and media owners worldwide."
"Perion's management has demonstrated strong strategic execution, further strengthening the business and positioning it for its next phase of growth," said Eyal Kaplan, Chairman of Perion's Board of Directors. "We believe the proposed transaction offers compelling value and greater financial certainty for Perion's shareholders, while providing a strong foundation for the company's future."
"We are excited to welcome the Perion family on board as we continue to strengthen the foundations of our AI-powered Consumer Platform Tech Stack," said Anuj Khanna Sohum, Chairperson, Managing Director and Chief Executive Officer of Affle. "The combination of Affle's strong leadership in mobile marketing with Perion's established presence across Retail Media, CTV, DOOH and other digital channels will enable us to drive greater synergies across the omnichannel consumer journey."
The transaction is subject to approval by Perion's shareholders, expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other closing conditions. Debt financing in support of the transaction is being provided by Citibank, N.A., and the transaction is not subject to a financing condition.
Canaccord Genuity is acting as exclusive financial advisor and Meitar Law Offices is acting as legal counsel to Perion. LUMA Partners is acting as financial advisor and Barnea Jaffa Lande and Co. is acting as legal counsel to Affle.
About Perion
Perion is an advanced technology leader redefining advertising through AI-native infrastructure, delivering real-time media execution across CTV, digital out-of-home, commerce and retail media, social and digital environments. Powered by Outmax, the company's proprietary AI agent, Perion helps brands, agencies, and retailers optimize spend and performance.
About Affle
Affle 3i Limited is a global technology company enabling verticalized AI-led consumer conversions for advertisers globally, powered by the differentiated CPCU business model across Mobile, CTV and other agentic and autonomous intelligent connected devices. Affle 3i Limited is listed on the NSE and BSE.
