Affle 3i to acquire Nasdaq-listed Perion Network

For cash consideration of USD 420 million

Affle 3i announced that its Israel-based step-down subsidiary, Affle 3iL (Affle), has signed a definitive agreement to acquire all outstanding shares (including unvested equity awards as per vesting schedule) of Perion Network (Perion) (NASDAQ & TASE: PERI) at US$ 11.70 per share in an all cash transaction for an implied equity value of ~US$ 420 million.

Perion is an Israeli technology company headquartered in Tel Aviv, with a strong North American footprint and dual listings on NASDAQ and the Tel Aviv Stock Exchange. It is an AI-powered tech stack providing omnichannel advertising solutions across Retail Media, Connected TV (CTV), DOOH and other digital channels. Over the last three years, the company has undergone a significant transformation, completing three strategic acquisitions and unifying these expanding segments under its Perion One platform.

Commenting on this development, Anuj Khanna Sohum, the Chairperson, MD and CEO of Affle said, ?We are excited to welcome the Perion family on board as we continue to strengthen the foundations of our AI-powered Consumer Platform Tech Stack. Through this acquisition, we are bringing together our highly complementing tech capabilities, innovation culture and unique IP to global scale. 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.?