Perion Agrees to $420 Million Acquisition by Indian Firm Affle
Translated & summarized from Ice by baba
Perion Network Ltd. has agreed to be acquired by Indian mobile advertising firm Affle for approximately $420 million, or $11.70 per share, representing a 34.5% premium. The deal, approved by Perion's board, is expected to close in early 2027, making Perion a private company and delisting its shares from Nasdaq and the Tel Aviv Stock Exchange. The agreement includes a 40-day "Go-Shop" period to explore superior offers.
The story in 5 lines · by baba
- Perion Network is being acquired by Indian company Affle for approximately $420 million.
- The deal offers a 34.5% premium on Perion's stock price, set at $11.70 per share.
- The acquisition is expected to be finalized in early 2027, pending approvals.
- Perion's shares will be delisted from Nasdaq and the Tel Aviv Stock Exchange.
- A 40-day "Go-Shop" period allows Perion to seek better offers until December 11.
Perion Network Ltd. has agreed to be acquired by Affle, a global technology company specializing in mobile advertising and AI-driven marketing solutions, in a cash deal valued at approximately $420 million. The agreement, announced Sunday, sets the purchase price at $11.70 per share, reflecting a 34.5% premium over Perion's closing share price on Friday, October 30. Upon completion of the transaction, which is anticipated in early 2027 and is contingent upon shareholder approval, regulatory conditions, and other closing requirements, Perion will transition to a privately held company fully owned by Affle. Its shares will be delisted from both the Nasdaq and Tel Aviv stock exchanges.
The deal received unanimous approval from Perion's board of directors. The agreement includes a 40-day "Go-Shop" period, extending until December 11, during which Perion and its financial advisor are permitted to proactively engage with other potential buyers and evaluate alternative offers. However, the company cautioned that there is no certainty this process will result in a superior proposal.
Affle, whose shares are traded on India's NSE and BSE exchanges, aims to integrate Perion's capabilities in retail media, connected TV, digital out-of-home, and other advertising environments with its own performance-based mobile marketing operations. Tal Yaakobson, CEO of Perion, stated that the acquisition presents an opportunity to expand the complementary strengths of both companies, creating new avenues for brands, agencies, and media owners. Eyal Kaplan, Chairman of the Board, highlighted that the offer provides shareholders with "compelling value" and enhanced financial certainty. As of the end of September, Perion held $228.3 million in cash, short-term deposits, and marketable securities. In the third quarter, the company utilized $26 million for its own share repurchases.
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