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Affle 3i Limited to Acquire Perion Network Ltd. for $420 Million to Enhance AI-Powered Consumer Platform Globally

Transaction valued at US$ 11.70 per share is expected to close in early 2027 pending regulatory and shareholder approvals

Affle 3i Limited announced its subsidiary's definitive agreement to acquire Perion Network Ltd. for approximately US$ 420 million in an all-cash transaction valued at US$ 11.70 per share. The acquisition will expand Affle’s AI-powered consumer platform across North America, Israel, and Europe, aiming to increase global scale and enhance ROI for advertisers.

20 hours ago|AFFLE+12.27%
Affle 3i Limited542752AFFLEAcquisition / Amalgamation / Merger / Demerger

Affle 3i Limited

Acquisition / Amalgamation / Merger / Demerger

Affle 3i Limited’s wholly owned Israeli subsidiary has signed an agreement to acquire 100% of Perion Network Limited’s outstanding shares for US$ 420 million in an all-cash deal. This acquisition will expand Affle's AI-powered Consumer Platform business across developed markets including the USA, Canada, Israel, and Europe.

Perion Network Limited is an Israeli technology firm listed on NASDAQ and the Tel Aviv Stock Exchange, offering AI-driven omnichannel advertising solutions across Retail Media, Connected TV (CTV), Digital Out-Of-Home (DOOH), and other digital channels.

Affle plans to fund the transaction through a mix of bank financing and available cash resources. The transaction will be implemented as a reverse triangular merger, after which Perion will become a wholly owned subsidiary and be delisted from public stock exchanges.

The deal includes acquisition of all Perion shares and unvested equity awards, with Perion holding no financial debt and a cash balance of approximately US$ 228 million as of September 30, 2026.

Affle expects the acquisition to strengthen its CPCU business, delivering enhanced AI-led consumer conversions and increased total addressable market globally, with revenue run rate post-transaction projected to exceed US$ 700 million for fiscal year 2028.

Closing of the transaction is anticipated in early 2027 and depends on regulatory clearances and shareholder approval. Affle expects the acquisition to be accretive to earnings per share within one year after closing.

Highlights

  • Acquisition price of US$ 11.70 per Perion share, totaling approximately US$ 420 million in cash.
  • Perion operates mainly in developed markets: USA, Canada, Israel, and Europe.
  • Affle 3iL Ltd., a wholly owned step-down subsidiary of Affle 3i Limited, is the acquiring entity.
  • Perion is debt free with a cash balance of around US$ 228 million as of September 2026.
  • Planned funding includes committed bank financing and cash resources.
  • Transaction to be completed via reverse triangular merger, with Perion continuing operations under its brand post-acquisition and being delisted from NASDAQ and TASE.

Key Data Snapshot

Acquisition price per Perion shareUS$ 11.70
Total implied equity value of transaction~US$ 420 million
Perion cash balance as of September 30, 2026~US$ 228 million
Perion financial debtNone
Expected fiscal year 2028 revenue run rate post-acquisitionOver US$ 700 million
Expected transaction close timelineEarly 2027
Perion stock exchanges for delistingNASDAQ and Tel Aviv Stock Exchange

What happened

  • Affle 3i Limited’s Israeli subsidiary signed an agreement to acquire all outstanding shares of Perion Network Limited in an all-cash deal.
  • The transaction values Perion at around US$ 420 million, or US$ 11.70 per share.
  • Perion operates primarily across the USA, Canada, Israel, and Europe, focusing on AI-powered omnichannel advertising technology.

Key details

  • Acquisition will be funded through bank financing and available cash resources.
  • Transaction structured as a reverse triangular merger, making Perion a wholly owned subsidiary of Affle.
  • Post-acquisition, Perion’s shares will be delisted from NASDAQ and the Tel Aviv Stock Exchange.
  • Perion has no financial debt and held approximately US$ 228 million cash as of end-September 2026.
  • The deal includes acquisition of unvested equity awards as per their vesting schedules.

Strategic context

  • The acquisition extends Affle’s AI-powered Consumer Platform footprint to developed markets and enhances its CPCU business globally.
  • Combining Affle’s mobile marketing leadership with Perion’s retail media and omnichannel presence aims to strengthen advertising ROI for clients.
  • Affle targets revenue run rate exceeding US$ 700 million for fiscal 2028 after acquisition completion.

Next milestones

  • The transaction is subject to customary regulatory approvals and Perion shareholder approval.
  • A go-shop period is included before Perion shareholder vote.
  • Expected closing is in early 2027, following fulfillment of closing conditions.

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Affle 3i Limited to Acquire Perion Network Ltd. for $420 | Stockk News