Israeli advertising company Perion to be sold to Indian giant Affle for $420 million

In depth

Israeli technology company Perion has signed a binding merger agreement with India's Affle, under which shareholders will receive $11.70 per share in cash. According to Bizportal, the agreement includes a 40-day period during which Perion can look for a buyer offering a higher price. According to Arutz Sheva, the company's board unanimously approved the deal.

According to TheMarker, Perion has failed to recover from the loss of its profits following the end of its collaboration with Microsoft in 2024, and revenues from its search business have plunged in recent years. According to Bizportal, the company holds $228 million in cash and liquid financial assets. The deal is expected to close in early 2027, after which Perion will be delisted from Nasdaq and the Tel Aviv Stock Exchange. According to Channel 14, Perion's share price jumped by about 30% following the announcement.