समाचार Samāchār · Startups · 2 November 2026

Affle agrees to buy Nasdaq-listed Perion for $420 million. Indian tech is buying West

The all-cash offer pays $11.70 a share, a 34.5% premium. Perion holds $228 million of its own cash. A go-shop runs to 11 December and closing is expected in early 2027.

An Indian ad-tech company has agreed to buy a Nasdaq-listed one for cash. Affle 3i announced on Sunday that its Israel-based subsidiary, Affle 3iL, will acquire Perion Network at $11.70 a share. That values Perion’s equity at about $420 million. It is a 34.5% premium to Perion’s close of $8.70 on 30 October. The Perion board approved it unanimously.

The price is smaller than the headline. Perion held $228.3 million in cash, deposits and marketable securities on 30 September, and Affle says it has no financial debt. Set one against the other and the business itself costs about $192 million, before deal costs. Affle will pay with committed bank financing from Citibank and available cash. There is no financing condition. Affle expects to be net debt free immediately after the deal.

What Affle is buying is reach. It built its business on mobile performance marketing, paid per converted user, with its strength in emerging markets. Perion works in retail media, connected TV and digital out-of-home, with a strong presence in North America. Chairperson and CEO Anuj Khanna Sohum called the deal “an important step in strengthening our CPCU business across Developed Markets”. Perion CEO Tal Jacobson called it “an important milestone for Perion”.

The deal is not done. A 40-day go-shop lets Perion seek a better offer until 11 December. Perion shareholders must vote and the US antitrust waiting period must clear. Closing is expected in early 2027. Perion then leaves Nasdaq and the Tel Aviv exchange and keeps its brand. Affle projects a revenue run rate above $700 million in FY28 and earnings accretion by the end of the first year after closing. Those are the buyer’s numbers. It also says it will revise Perion’s revenue recognition and review its contracts, and expects that to lift Perion’s bottom line. Integration is where such deals are tested.

Affle comes to this from a steady base. Revenue from operations was ₹783.6 crore in the September quarter, up about 21% on the year. EBITDA rose 24.2%. Indian firms have long sold services to the West. Buying a listed platform with a North American book, for cash, and keeping its name is a different kind of export.

What a founder takes from it: Indian companies are starting to buy distribution abroad, not only sell services to it. Founders should study the structure and watch the integration. A deal is an announcement. The merger is the work.