Affle 3i Limited, a global technology company focused on consumer intelligence and AI-led mobile advertising, today announced that its Israel-based subsidiary, Affle, has signed an agreementto acquire Perion Network Limited in an all-cash deal valued at $420 million, about $11.70 per share.
Affle focuses on mobile ads that track actual customer purchases --cost-per-converted-user (CPCU) -- to improve audience targeting, reduce digital ad fraud, and drive user conversions.
With its AI-powered tech stack, the company provides omnichanneladvertising across retail media, connected TV (CTV), DOOH and other digital channels.
Buying Perion will enable Affle to expand in North America and in regions across the globe, and throughnew advertising channels such as retail screens and connected TV.
Perion, headquartered in Tel Aviv, has a strong North American footprint and dual listings on NASDAQ and the Tel AvivStock Exchange.
During the past three years, the company has undergone a change, completing three strategic acquisitions and unifying these expanding segments under its Perion Oneplatform.
Affle supports advertisers across a variety of industry verticals in more than 100 countries.
The acquisition builds on this foundation, bringing together Perion'sestablished presence, brand awareness and strength in traditional digital advertising in established markets, and Affle's strength in mobile marketing and AI-driven sales conversions in growingmarkets.
The move will significantly expand the global market for Perion's CPCU business. The combination of Affle's AI-powered model and Perion's advertiser campaigns is intendedto integrate Perion's CTV and DOOH capabilities with direct purchases.
Perion CEO Tal Jacobson wrote in a LinkedIn post that over the past several years, Perion has evolved into a"differentiated ad technology company" focused on innovation and measurable business outcomes.
Through Perion One and its Outmax AI agent, Jacobson said, the company continues to build on theways advertising is executed and optimized across channels.
One of the goals of the acquisition is to utilize Affle's expertise in mobile performance and global reach to complementPerion's strengths, in order to create additional opportunities for advertisers that want to expand into new markets.
Perion has no financial debt. As of Sept. 30, 2026, it had a cashbalance of approximately $228 million.
Affle plans to fund the acquisition through a combination of committed financing from banks and available cash resources.
On closing,Perion's ordinary shares will be delisted from Nasdaq and the Tel Aviv Stock Exchange. Perion will continue to operate under the Perion brand, but it's not clear if Jacobson will remainwith the company.
After the acquisition is completed, company execs expect to update Perion's revenue predictions and contracts, and expect to see "significantly improved bottom lineperformance based on the immediate strategic synergies."
The transaction is expected to close in early 2027, subject to required approvals and other closing conditions.
