Key Highlights

  • Shares are trading up 31.32% at $11.43, just below the $11.70 offer.
  • The deal values Perion's Equity at about $420 million.
  • Perion held about $228 million in cash and no financial debt.

Perion (NASDAQ:PERI) shares are trading up 31.32% at $11.43 after Affle signed a definitive agreement to acquire all outstanding shares for $11.70 each in cash. The stock is at its 52-week high of $11.43, from a 52-week low of $7.63.

Perion is a Tel Aviv-based Advertising technology company that runs campaigns across connected TV, digital out-of-home, retail media and other channels through its Perion One platform and Outmax AI agent. Affle is an India-listed technology company focused on AI-driven consumer conversions for advertisers.

All-Cash Offer Values Perion at About $420 Million

The $11.70 per share price represents a premium of about 34.5% to the previous close of $8.70 and an implied equity value of about $420 million. Perion had about $228 million in cash at September 30 and no financial debt. Affle plans to fund the purchase through committed bank financing and available cash.

The deal will be structured as a reverse triangular merger, with Perion continuing to operate under its own Brand as a Wholly Owned Subsidiary of Affle. Perion's shares will be Delisted from Nasdaq and the Tel Aviv Stock Exchange at closing.

Go-Shop Period and Shareholder Vote Precede Closing

The agreement includes a go-shop period for Perion before it seeks shareholder approval, and closing is expected in early 2027 subject to regulatory and shareholder approvals. Both boards have approved the transaction. Shares are trading about $0.27 below the offer price.

Affle Targets Earnings Accretion by the End of Year One

Affle said it expects the Acquisition to add to its Earnings Per Share by the end of the first year after closing, helped by plans to move Perion toward its cost per converted user model and to update Perion's Revenue recognition. Affle would be net Debt free right after closing with a fiscal 2028 revenue run rate above $700 million.