Affle has signed an agreement to acquire the ad tech company Perion for $11.70 a share in cash, a deal Perion values at about $420 million, and Perion’s board is free to look for a better offer until December 11.
What happened
Perion said the merger agreement was signed on November 1. The price is a 34.5% premium to Perion’s October 30 close, and its board approved the agreement unanimously. A 40-day go-shop runs until 11:59 PM Israel time on December 11, during which Perion and its financial advisor can solicit other proposals. The announcement says closing is expected in early 2027, after a Perion shareholder vote and expiry of the U.S. Hart-Scott-Rodino waiting period. There is no financing condition, and Citibank is providing the debt financing.
Perion would become a wholly owned Affle subsidiary, keep the Perion brand and delist from Nasdaq and the Tel Aviv exchange. It has withdrawn its 2026 outlook and its 2028 targets, and suspended its share buyback after repurchasing 21.3 million shares for $196.8 million of a $200 million authorization. Third-quarter results are due November 16, with no earnings call.
Why it matters for marketers
Perion sells media execution across CTV, digital out-of-home, retail media and social to brands, agencies and retailers. Affle chairperson and CEO Anuj Khanna Sohum said, “This is an important step in strengthening our CPCU business across Developed Markets.” The announcement does not say how Perion’s contracts or pricing would change after closing. Buyers of Perion inventory have no new terms to evaluate yet.
The deal follows other platform deals this autumn, from Salesforce’s agreement to buy Braze to DoorDash’s offer for Instacart.
One practical step
In our reading, the go-shop makes the next five weeks the period when a second bidder could appear, so agencies with open Perion insertion orders can ask now for change-of-control and pricing-notice language before the vote.
Source: Perion Network press release, November 1, 2026 (SEC Form 6-K, Exhibit 99.3)
