Affle agrees $420 million cash acquisition of Perion
Affle agreed to acquire Israeli advertising technology company Perion for approximately $420 million in cash. The $11.70 per-share offer carries a 34.5 per cent premium to the October 30 closing price. Perion can seek competing proposals until December 11, with completion expected in early 2027 subject to shareholder and regulatory conditions.
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Cash offer includes a forty-day search for rivals
Affle, the India-based mobile advertising technology group, agreed to acquire Israeli advertising technology company Perion for approximately $420 million in cash. Shareholders would receive $11.70 per share, a 34.5 per cent premium to the October 30 closing price. Perion’s board unanimously approved the agreement. A forty-day period running through December 11 allows the company to seek competing proposals before the planned completion in early 2027.[1], [2]
Shareholder and antitrust approvals remain outstanding
Completion requires Perion shareholder approval, US antitrust clearance and other customary conditions. The agreement has no financing condition; Citibank is providing debt financing to support the acquisition. Perion held $228.3 million in cash, short-term deposits and marketable securities at September 30. Following completion, it would become a wholly owned Affle subsidiary, continue under its own brand and leave both Nasdaq and the Tel Aviv Stock Exchange.[1]
Perion’s search business was hit when Microsoft changed compensation terms for distribution partners in 2024. Search represented 46 per cent of Perion revenue in 2023, and Microsoft supplied 85 per cent of that segment’s revenue. Chief executive Tal Jacobson has pursued connected television and digital outdoor advertising alongside the Perion One platform and Outmax advertising agent. Affle says the acquisition would extend its mobile advertising business into television, retail media and outdoor digital channels.[1]
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