Tal Jacobson. Perion (crop).
Israeli advertising-technology company Perion and Affle announced Sunday, November 1, that they had signed a definitive merger agreement valuing Perion’s equity at about $420 million. Under the companies’ announcement, Perion shareholders would receive $11.70 in cash per share if the acquisition closes. The deal is not yet complete.
The offer is 34.5% above Perion’s closing share price on October 30, the companies said. Perion’s board unanimously approved the agreement, but shareholders still have to vote on it. The companies expect to close in early 2027, subject to that approval, the expiration or termination of the required U.S. antitrust waiting period under the Hart-Scott-Rodino Act and other closing conditions.
A combination of mobile and broader digital advertising
Perion builds technology that helps brands, agencies and retailers buy, run and improve advertising across connected television, digital outdoor screens, retail media, social media and other digital channels. Its tools use artificial intelligence to help decide how advertising money is spent and measure the results.
Affle develops advertising technology focused on reaching consumers and turning their engagement into measurable actions, particularly on mobile devices. Its parent, Affle 3i Limited, is listed on India’s National Stock Exchange and BSE. The acquiring company named in the agreement is Affle 3iL Ltd., a subsidiary of Affle International.
The business case is to bring Affle’s mobile-marketing capabilities together with Perion’s reach across other advertising channels. Perion CEO Tal Jacobson said the combination could create opportunities for brands, agencies and media owners. That is the companies’ aim, not a result they have already achieved.
What changes for shareholders and customers
For Perion investors on Nasdaq and the Tel Aviv Stock Exchange, the agreement offers a cash exit rather than shares in the buyer. If completed, Perion would become wholly owned by Affle and its shares would be delisted from both exchanges. The company would continue operating under the Perion name.
Advertisers, publishers and other customers have a different stake: how the two companies’ technology and services would work together. Jacobson said Perion remained focused on executing its strategy and serving customers and partners during the process. The announcement does not describe a completed integration or promise immediate changes to customer services.
Perion can still seek another offer
The agreement includes what the companies describe as a 40-day “go-shop” period, allowing Perion and its financial adviser to seek and consider alternative acquisition proposals. The stated deadline is 11:59 p.m. Israel time on December 11, 2026. A competing offer is possible, not assured.
Citibank is providing debt financing to support the acquisition, and the deal is not subject to a financing condition, according to Perion’s release. That does not remove the shareholder vote or the other closing requirements. The next steps are the search for any alternative proposals, shareholder approval and satisfaction of the conditions needed to close.
JBizNews Desk | New York / Tel Aviv
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