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Affle agrees to acquire adtech company Perion for 420 million dollars

Global adtech firm Affle has signed a definitive agreement to acquire Perion Network for $420 million in an all-cash deal.

FTMQ Startups, written by our newsroom0 views

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Adtech company Affle has agreed to acquire digital advertising firm Perion Network for $420 million in an all-cash transaction, according to reports from Sahyadri Startups, BigGo Finance, and Dealroom. Perion shareholders will receive $11.70 per share, which represents a 34.5 percent premium over its prior trading price, Sahyadri Startups reported. [1][2][3]

The definitive merger agreement has been unanimously approved by Perion, Sahyadri Startups reported. Once the transaction closes, Perion will operate as a wholly owned subsidiary of Affle 3iL Ltd., a unit of Affle International, and will retain the Perion brand name. [1]

CTech reported that the deal marks a steep fall for Perion, an Israeli firm that was once valued as a billion-dollar company. Storyboard18 noted that the acquisition allows Affle to expand its footprint into connected television and retail media advertising. [4][5]

Affle provides mobile advertising solutions, while Perion focuses on digital advertising infrastructure. Additional coverage of the $420 million acquisition was reported by TokenPost. [1][6]

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In short

  • Affle is acquiring Perion Network for $420 million in cash.
  • Perion shareholders will receive $11.70 per share, a 34.5 percent premium.
  • Perion will operate as a wholly owned subsidiary under its existing brand name.
  • The acquisition expands Affle into connected TV and retail media advertising.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

  1. [1]Affle To Acquire Perion For $420 Million In All-Cash TransactionSahyadri Startups, 11h ago (the report this story comes from)
  2. [2]Affle to Buy Perion for $420 Million in All-Cash Ad-Tech DealBigGo Finance, 8h ago
  3. [3]Affle to buy ad-tech firm Perion in $420M all-cash dealDealroom, 13h ago
  4. [4]Perion to be acquired by India’s Affle for $420 million, marking a steep fall for a once-billion-dollar Israeli companyCTech, 13h ago
  5. [5]Affle to acquire Perion for $420 million, expands into connected TV and retail media advertisingStoryboard18, 8h ago
  6. [6]Affle Agrees to Acquire Perion in $420 Million All-Cash Dealwww.tokenpost.com, 10h ago

Background

  1. [7]Cash App on Wikipedia
  2. [8]Guidewire to acquire AI underwriting startup Hyperexponential for 1 point 7 billion dollars FTMQ Startups, 5d ago

Our newsroom writes these reports with the help of software, from the 8 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

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