Affle Acquires @PerionNetwork

Perion (NASDAQ and TASE: PERI) and Affle 3iL Ltd., a subsidiary of Affle International Pte. Ltd., have entered a definitive agreement under which Affle will acquire Perion in an all-cash transaction, DailyDOOH reported. Upon closing, Perion would become a wholly owned subsidiary of Affle and continue to operate under the Perion brand. Perion shareholders are to receive $11.70 per share, representing an equity value of approximately $420 million and a 34.5% premium to the company's closing share price on October 30, 2026, the last trading day before the agreement was executed. For owners who use Perion or Affle services, the announcement describes a corporate acquisition rather than a change in products, pricing or service, and campaigns and contracts can continue while updates are monitored.

Deal terms and timeline

The agreement was unanimously approved by Perion's board and includes a 40-day go-shop period that allows Perion to affirmatively solicit alternative proposals. That period expires at 11:59 p.m. local time in Israel on December 11, 2026. Perion said there can be no assurance the process will result in a superior proposal and that it does not intend to disclose developments unless it determines disclosure is appropriate or required.

Completion is expected in early 2027, subject to approval by Perion shareholders, expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other closing conditions. Upon completion, Perion ordinary shares would no longer be listed on the Nasdaq Stock Market or the Tel Aviv Stock Exchange. Debt financing is being provided by Citibank, N.A., and the transaction is not subject to a financing condition.

Executive statements

Tal Jacobson, chief executive of Perion, said the company has "transformed Perion into a differentiated advertising technology company," and that "through Perion One and our Outmax AI agent, we continue to advance how advertising performance is executed and optimized across channels," adding that "our agreement with Affle marks an important milestone for Perion." Eyal Kaplan, chairman of Perion's board, said "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.

Anuj Khanna Sohum, chairperson, managing director and chief executive of Affle, said Affle is "excited to welcome the Perion family on board" as it strengthens "the foundations of our AI-powered Consumer Platform Tech Stack." He said the combination of Affle's leadership in mobile marketing with Perion's presence across retail media, CTV, DOOH and other digital channels will enable greater synergies across the omnichannel consumer journey, and described the deal as an important step in advancing Affle's "10X decadal growth vision."

As of September 30, 2026, Perion had $228.3 million in cash and cash equivalents, short-term bank deposits and marketable securities. During the third quarter, it used $26.0 million under its share repurchase program and $10.9 million for the acquisition of PRN. Affle 3i Limited is listed on the NSE (AFFLE) and BSE (542752) and says it enables verticalized AI-led consumer conversions for advertisers globally through a CPCU business model across mobile, CTV and other intelligent connected devices.

Canaccord Genuity is acting as exclusive financial advisor and Meitar Law Offices as legal counsel to Perion. LUMA Partners is acting as financial advisor and Barnea Jaffa Lande & Co. as legal counsel to Affle.