Affle 3i Limited, a prominent global technology organisation, has announced a significant acquisition move, as its wholly owned step-down subsidiary, Affle 3iL Ltd., is set to acquire Perion Network Limited. This transaction values the Israeli advertising tech company Perion at an implied equity value of approximately US$ 420 million. The acquisition will involve Affle purchasing 100% of Perion's shares, incorporating both outstanding and unvested equity awards, in an all-cash transaction priced at US$ 11.70 per share.
The Gurugram-based Affle is recognised for its AI-powered Consumer Platform that facilitates superior consumer conversions for advertisers. This strategic purchase is anticipated to elevate Affle's cost per converted user (CPCU) business, particularly across developed markets including the USA, Canada, Israel, and Europe, where Perion has strong operational footprints. This integration is expected to bolster Affle's technology capabilities and expand its reach, as Perion's expertise in omnichannel advertising through connected TV, digital out-of-home, and other digital platforms complements Affle's focus on mobile marketing.
Anuj Khanna Sohum, Chairperson, MD, and CE...