Another adtech company is being sold.
Perion announced today that it has entered into a definitive merger agreement with India-based Affle in an all-cash transaction valued at approximately $420 million, or $11.70 per share.
The acquisition is expected to close in early 2027, subject to required approvals. Perion will then be delisted from Nasdaq and Tel Aviv’s Stock Exchange.
Why This Matters
M&A is in the air, and this deal gives Affle an opportunity to expand well beyond its mobile roots.
Affle specializes in helping advertisers acquire customers through mobile performance marketing. Perion brings a broader advertising technology business, including CTV, retail media, digital out-of-home, and other online channels.
The acquisition also expands Affle’s geographic footprint. Perion has an established presence in North America and Europe — this will give Affle greater access to developed ad markets.
For Perion, the deal offers an exit after years of uneven performance as a publicly traded company, despite investments in acquisitions, AI and its Perion One platform.
Experts React
Perion CEO Tal Jacobson shared the news on LinkedIn, highlighting the complementary strengths of the two companies.
“Affle’s established expertise in mobile performance and global reach complement our strengths, creating opportunities to expand into new markets and deliver greater value to brands, agencies, and media owners,” he wrote.
Meanwhile, LUMA Partners CEO Terence Kawaja, whose firm advised Affle on the deal, pointed to a broader resurgence in adtech M&A.
“As AI reshapes the competitive landscape, companies are increasingly turning to strategic combinations to expand capabilities, achieve scale and strengthen their market positions. We expect this momentum to accelerate,” he wrote.
Our Take
Adtech consolidation continues, and as Kawaja suggests, we will likely see more deals as companies look to expand their capabilities and scale.
At $420 million, Perion feels like a relatively cheap acquisition for Affle. We’re essentially in a buyer’s market. Who will be next?
