New Delhi, Nov 1 (PTI) Technology firm Affle 3i on Sunday said its Israel-based step-down subsidiary has signed a definitive

New Delhi, Nov 1 (PTI) Technology firm Affle 3i on Sunday said its Israel-based step-down subsidiary has signed a definitive

New Delhi, Nov 1 (PTI) Technology firm Affle 3i on Sunday said its Israel-based step-down subsidiary has signed a definitive

New Delhi, Nov 1 (PTI) Technology firm Affle 3i on Sunday said its Israel-based step-down subsidiary has signed a definitive agreement to acquire Nasdaq- and Tel Aviv-listed Perion Network for about USD 420 million (about Rs 3,986 crore) in an all-cash deal, as it looks to scale its business in developed markets.

    Perion shareholders will receive USD 11.70 per share, giving the company an implied equity value of about USD 420 million, Affle 3i said in a regulatory filing.

    Affle 3iL Ltd, a wholly owned step-down subsidiary of the company, will acquire all outstanding shares of Perion, including unvested equity awards in line with their vesting schedule.

    “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,” Affle Chairperson, MD and CEO, Anuj Khanna Sohum, said.

    Perion is headquartered in Tel Aviv, with a strong presence in North America. Its advertising technology platform works across retail media, connected TV (CTV), digital out-of-home (DOOH) and other digital channels. Perion has no financial debt and had a cash balance of about USD 228 million as of September 30, 2026, according to the filing.

    Perion reported revenue of USD 439.9 million and a net loss of USD 7.9 million in calendar year 2025. Revenue was USD 498.3 million in 2024, with a profit after tax of USD 12.6 million, and USD 743.2 million in 2023, with a profit after tax of USD 115 million.

    Affle said the deal would combine Perion’s presence in upper-funnel digital advertising channels in developed markets with its own deeper-funnel mobile marketing business in emerging markets. It added that the deal would widen the market for its cost per converted user (CPCU) model, under which advertisers pay for converted users.

    The deal will be done through a reverse triangular merger. A wholly owned subsidiary of Affle will merge into Perion, and Perion will survive as a wholly owned subsidiary of Affle.

    On closing, Perion’s shares will be delisted from Nasdaq and the Tel Aviv Stock Exchange, but the company will keep operating under the Perion brand.

    The company said the deal is expected to close in early 2027.

    Affle said it would be net-debt free immediately after the acquisition and would have a revenue run rate of more than USD 700 million in FY28.

(This story has not been edited by THE WEEK and is auto-generated from PTI)