Indian digital advertising company Affle international has signed a definitive agreement to acquire Israeli ad-tech company Perion Network (Nasdaq: PERI; TASE: PERI). Affle will pay $11.70 per share, a 34.5% premium on Friday’s closing price on Wall Street, for a total of $420 million. The companies expect the deal to be completed in early 2027, after which Perion will be delisted from Nasdaq and the TASE.
In April 2023, the company was trading at a market cap of NIS 7 billion but since then has lost 82% of its value. Today, its market cap stands at NIS 1.05 billion (about $360 million).
In recent months, Perion has reported two moves by Microsoft that negatively impacted its operations. In February, Microsoft altered the advertising pricing mechanism used on its Bing search engine for searches originating from its distribution partners - a change that led to a decline in Perion’s advertising activity and its average revenue per thousand impressions.
In June, Perion once again cut its guidance after Microsoft announced the removal of several publishers from its distribution network, some of whom worked with Perion. Consequently, Perion stated that its revenue from Bing would account for less than 5% of its total revenue during the second half of the year. Perion previously encountered a similar situation a few years ago, when a change in Google’s policy negatively affected its business.
Perion CEO Tal Jacobson said, "Our agreement with Affle marks an important milestone for Perion. Affle has established a strong position in mobile performance, supported by an experienced team, global reach, and a focus on measurable results. We see significant potential in bringing these complementary capabilities together to create new opportunities for brands, agencies, and media owners worldwide. Throughout this process, our focus remains on executing our strategy, supporting our people, and delivering for the customers and partners who rely on us."
Affle chairperson and managing director Anuj Khanna Sohum added, "The combination of Affle's strong leadership in mobile marketing with Perion's established presence across Retail Media, CTV, DOOH and other digital channels will enable us to drive greater synergies across the omnichannel consumer journey on intelligent connected devices. With our integrated capabilities, we see opportunities to unlock greater ROI for advertisers and publishers alike, while driving global scale for premium consumer conversions across industry verticals such as e-commerce, retail and healthcare. This is an important step in strengthening our CPCU business across Developed Markets and advancing our 10X decadal growth vision."
Published by Globes, Israel business news - en.globes.co.il - on November 1, 2026.
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