Affle 3i Limited has entered into a definitive agreement to acquire all outstanding shares of Perion Network Limited for an implied equity value of approximately US$420 million. The all-cash transaction, priced at US$11.70 per share, aims to scale Affle’s CPCU business globally by integrating Perion’s AI-powered advertising technology and broad market presence.
Affle Announces Acquisition of Perion Network
Affle 3i Limited, a global technology company specializing in AI-powered consumer conversions, has announced a significant strategic move with the signing of a definitive agreement to acquire Perion Network Limited. The transaction, valued at an implied equity value of approximately US$420 million, will see Perion shareholders receive US$11.70 per share in an all-cash deal.
Strategic Rationale and Business Expansion
This acquisition is expected to bolster Affle’s Consumer Platform and expand its global footprint, particularly strengthening its cost per converted user (CPCU) business model. The integration of Perion’s AI-native infrastructure and omnichannel advertising solutions across Retail Media, Connected TV (CTV), Digital Out-of-Home (DOOH), and other digital channels is anticipated to create significant synergies. Affle aims to leverage Perion’s established presence in developed markets to drive premium consumer conversions and enhance ROI for advertisers.
Transaction Details and Expected Closing
The acquisition will be executed via a reverse triangular merger, with Perion becoming a wholly-owned subsidiary of Affle. Perion’s ordinary shares are expected to be delisted from NASDAQ and the Tel Aviv Stock Exchange upon closing. The transaction is subject to customary closing conditions, including regulatory approvals and Perion shareholder approval. The closing is anticipated in early 2027. Post-acquisition, Affle projects a FY2028 revenue run rate exceeding US$700 million and expects the acquisition to be accretive to earnings per share (EPS) within the first year.
Leadership Commentary
Anuj Khanna Sohum, Chairperson, MD and CEO of Affle, expressed excitement about welcoming the Perion family, highlighting the combination of complementary tech capabilities and innovation culture. Tal Jacobson, CEO of Perion, noted the significant potential in bringing together complementary capabilities to create new opportunities for brands and agencies worldwide.
Source: BSE
