Perfect Corp., an artificial intelligence and augmented reality software company serving the beauty and fashion industries, announced that it has received a preliminary, non-binding proposal to go private at a price of $1.95 per ordinary share in cash.
The proposal was submitted by a consortium that includes CyberLink International Technology Corp. and Perfect’s Chairwoman and CEO Alice H. Chang, along with her affiliated entities. The offer represents a premium of 44.4% to the company’s closing share price on March 17, 2026, as well as premiums of 35.4% and 23.4% to the company’s 30-day and 60-day volume-weighted average prices, respectively.
According to the proposal, the consortium plans to form an acquisition vehicle to execute the transaction. The deal would be financed through a combination of equity contributions, including rollover equity from consortium members, and the company’s available cash. Additional debt financing may also be used if deemed necessary.
Perfect’s board of directors has not yet made any decisions regarding the proposal. The board plans to establish a special committee composed of independent and disinterested directors to evaluate the offer. This committee will have the authority to engage legal, financial, and other advisors to assist in its review.
The company emphasized that the proposal is preliminary and non-binding, meaning there is no guarantee that a definitive agreement will be reached or that the transaction will ultimately be completed.
The consortium currently holds approximately 53.4% of Perfect’s total outstanding shares and controls about 81.2% of the company’s voting power, positioning it strongly to pursue the transaction if negotiations proceed.
Founded in 2015, Perfect Corp. develops AI- and AR-powered solutions for consumer and enterprise applications, including virtual try-on technologies and digital beauty tools used by global brands and retailers.
