Affle to Buy Perion in $420 Million All-Cash Deal at 34.5% Premium

what happened

Israeli advertising technology company Perion and Affle 3i, a subsidiary of Affle International, have signed a definitive agreement under which Affle will acquire Perion in an all-cash transaction. Perion shareholders will receive $11.70 per share, valuing the equity at roughly $420 million. The price is 34.5% above Perion's closing share price on October 30, 2026, the last trading day before the agreement was signed.

Perion's Board of Directors unanimously approved the merger agreement. A 40-day go-shop period, ending December 11, 2026, allows the company to seek alternative proposals. Completion is expected in early 2027, subject to shareholder approval and US antitrust clearance. Upon closing, Perion shares will stop trading on Nasdaq and the Tel Aviv Stock Exchange. As of September 30, 2026, Perion reported $228.3 million in cash, short-term deposits and marketable securities.

why it matters

For investors, the deal is an example of a takeover of a small advertising technology company at a premium to its recent trading price. Citibank is providing debt financing, and the transaction is not subject to a financing condition. The go-shop window leaves a small chance that a higher offer emerges.

market impact

Perion shares: price is anchored to the Affle offer, with upside capped by deal terms

• ▲Perion pressure up — the cash offer sits 34.5% above the last market close

tags

instruments