Israeli adtech company Perion has signed a binding merger agreement to be acquired by Affle, an advertising technology group of Indian origin, in an all-cash deal valuing its equity at about $420 million. Perion shareholders will receive $11.70 per share, a 34.5% premium to the October 30 close.
According to the SEC filing, Perion will become a wholly owned Affle subsidiary and continue operating under its own brand. Citibank is providing debt financing and the deal is not subject to a financing condition. Perion's board approved the merger unanimously.
The agreement includes a 40-day 'go-shop' period, through December 11, during which Perion may actively solicit competing proposals. Closing is expected in early 2027, subject to regulatory approvals and a shareholder vote.
For Perion, listed on Nasdaq and in Tel Aviv, it ends a difficult stretch. The company once relied heavily on search revenue through a Microsoft partnership, was shaken when that business weakened, and has tried to rebuild around connected-TV advertising, cross-channel media and AI tools.
