Key Takeaways
Affle agreed on 1 November 2026 to buy Perion for $11.70 a share in cash
The deal values Perion's equity at about $420 million, a 34.5% premium to its 30 October close
A 40-day go-shop lets Perion seek rival offers until 11 December 2026
Closing is expected in early 2027, subject to a Perion shareholder vote and US antitrust review
Perion will keep its brand as a wholly owned subsidiary of Affle
The Affle Perion acquisition was announced on 1 November.
Perion's release on Business Wire says Affle will buy the Nasdaq- and Tel Aviv-listed adtech company in an all-cash deal.
Perion shareholders get $11.70 a share. That values Perion's equity at about $420 million.
The release names Affle 3i Limited, listed on India's NSE and BSE, as the buyer. It acts through Affle 3iL Ltd., a subsidiary of Affle International Pte. Ltd.
Affle's June 2026 filing to the NSE and BSE lists its registered office as New Delhi.
If you buy CTV, DOOH or retail media through Perion, your vendor will have an Indian-listed parent once the deal closes.
What are the terms of the Affle Perion acquisition?
Affle will pay $11.70 in cash for each Perion share, about $420 million in equity value, according to Perion's 1 November 2026 release. The price is a 34.5% premium to Perion's 30 October close, and Perion's board approved it unanimously. Closing is expected in early 2027, subject to Perion shareholder approval and the US Hart-Scott-Rodino waiting period.
Citibank is providing debt financing, and the deal has no financing condition. Perion shares will leave Nasdaq and the Tel Aviv Stock Exchange after closing.
What Affle gets with Perion
Perion's Q2 2026 results, released on 10 August, show where its growth sits.
- Perion One spend rose 15% year over year to $156.7 million
- CTV spend grew 56%
- DOOH spend grew 45%
- Retail media spend grew 60%
- Spend through Outmax, Perion's AI agent, grew 136% on a pro forma basis
- Total revenue fell 5% to $98.2 million
Affle's CEO named those same channels.
"Perion's established presence across Retail Media, CTV, DOOH and other digital channels" - Anuj Khanna Sohum, Chairperson, Managing Director and CEO, Affle
Affle already talks CTV at home. Its India revenue chief was quoted in our report on India's CTV ad market matching linear TV.
The Affle Perion deal in 6 dates
| Date | What happens | Source |
|---|---|---|
| 13 Jun 2026 | Affle discloses it is buying AdColony assets from Digital Turbine for US$4.70 million | NSE filing |
| 30 Oct 2026 | Perion's last trading day before the agreement; the premium is measured against this close | Perion release |
| 1 Nov 2026 | Merger agreement announced at $11.70 a share | Perion release |
| 11 Dec 2026 | Go-shop ends at 11:59 PM Israel time, which is 3:29 AM IST on 12 Dec | Perion release |
| Early 2027 | Expected close, after the shareholder vote and the HSR waiting period | Perion release |
| After close | Perion delists from Nasdaq and TASE and keeps its brand | Perion release |
The cash maths behind $420 million
Working back from the 34.5% premium, Perion closed at about $8.70 on 30 October.
Perion held $228.3 million in cash, deposits and marketable securities on 30 September. That's about 54% of the deal's equity value.
Take that cash out and about $192 million is left for Perion's operating business. Our sum ignores any other balance sheet items and deal costs.
What to do if you buy through Perion
Mark 11 December. A rival offer would land before then. Perion says it won't comment on the go-shop unless it has to.
Ask your account team about contracts. The release says Perion keeps its brand. It doesn't say what changes for clients.
Keep a second CTV route open. Our report on LinkedIn CTV ads joining Google DV360 lists other ways to buy programmatic CTV.
Disclaimer: This content is generated with the help of AI and involves human oversight. Please verify the sources and claims at your end.
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