Perion has entered into a definitive agreement to be acquired by Affle in an all-cash transaction valued at approximately $420 million.
Under the agreement, Perion shareholders will receive $11.70 per share in cash. The offer represents a 34.5% premium to Perion’s closing share price on October 30, 2026, the final trading day before the merger agreement was executed.
Perion’s Board of Directors unanimously approved the transaction.
Following completion of the acquisition, Perion will become a wholly owned subsidiary of Affle and continue operating under the Perion brand.
The merger agreement includes a 40-day go-shop period that allows Perion and its financial advisor to actively solicit and evaluate alternative acquisition proposals. The go-shop period is scheduled to expire at 11:59 p.m. Israel time on December 11, 2026.
The transaction is expected to close 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, and other customary closing conditions.
After closing, Perion’s ordinary shares will no longer be listed on Nasdaq or the Tel Aviv Stock Exchange.
Affle plans to combine its mobile advertising capabilities with Perion’s presence across retail media, connected television, digital out-of-home advertising, social media, and other digital channels.
Perion operates an AI-native advertising infrastructure platform designed to help brands, agencies, retailers, and media owners optimize advertising execution and performance across multiple channels. Its technology includes Perion One and Outmax, its proprietary AI agent.
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, the company used $26 million under its share repurchase program and $10.9 million for the acquisition of PRN.
Citibank is providing debt financing to support the acquisition, and the transaction is not subject to a financing condition.
Canaccord Genuity is serving as exclusive financial advisor to Perion, while Meitar Law Offices is acting as its legal counsel. LUMA Partners is advising Affle financially, and Barnea Jaffa Lande & Co. is serving as Affle’s legal counsel.
KEY QUOTES:
“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.”
Tal Jacobson, CEO Of Perion
“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.”
Eyal Kaplan, Chairman Of Perion’s Board Of Directors
“Through this acquisition, we are bringing together our highly complementing tech capabilities, innovation culture and unique IP to global scale.”
Anuj Khanna Sohum, Chairperson, Managing Director And Chief Executive Officer Of Affle
