Formed in 1999, Perion Network Ltd. (PERI) is a publicly-listed technology company specialized in consumer applications and digital advertising. Headquartered in Holon, Israel, the multinational corporation also has offices in New York, San Francisco, Seattle, London, Paris and Germany. Perion has been listed on the NASDAQ and Tel Aviv Stock Exchange since 2006.
The company’s product portfolio is divided into two main sectors: Search Advertising and Social Advertising. Within Search Advertising, Perion excels at delivering high-quality online traffic primarily to advertisers from the search engine marketing industry through applications bundled with relevant software products. The focus of their Social Advertising segment is on offering an advanced AI-powered social advertising platform to brands, agencies and performance marketers.
Two of Perion’s most well-known product offerings are CodeFuel and Undertone. CodeFuel, a search technology platform, helps publishers monetize through various digital products such as websites, search engines, toolbars, mobile applications, content recommendation, etc. Undertone, on the other hand, is a cross-platform Synchronized Digital Branding solution, which focuses on delivering immersive creative experiences and impactful results across screens to create memorable ad experiences.
Over the years, Perion has grown organically and through strategic acquisitions, such as the shopping app and website GrowMobile in 2014, the digital ad company Undertone in 2015, and the content monetization company Content IQ in 2020.
The company has been widely recognized for its innovative products and solutions. For instance, in March 2021, Perion was named to Fast Company's prestigious annual list of the World's Most Innovative Companies for 2021.
Despite the uncertainties brought by the COVID-19 pandemic, Perion was able to maintain a solid financial performance in 2020, reflecting the company's flexibility and adaptability to market changes. Today, Perion's vision is to be the world’s leading tech-driven media company, delivering superior performance and establishing long-lasting connections between brands and their customers, with a commitment to innovation and customer satisfaction.
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Perion Network would pay Affle $14.7 million if it terminates their $420 million merger for a superior offer after December 11, or $10.5 million if signed before that date. The merger agreement details Perion's promises regarding its standing with major platforms like Google and Apple, consent, tracking, and fraud, with an exception for "customary practices in the ad-tech business." Until closing, Perion faces restrictions on buybacks, acquisitions, and layoffs, and the acquisition debt will transfer to Perion itself.
Perion Network Ltd. (NASDAQ: PERI) stock surged Monday after the advertising technology company announced an all-cash acquisition by Affle 3i Ltd. for approximately $420 million, or $11.70 per share. This represents a 34.5% premium for Perion shareholders. The deal is expected to close in early 2027, subject to approvals, and includes a 40-day "go-shop" period.
Affle has announced its intention to acquire Perion Network Limited for approximately US$420 million in an all-cash transaction. This acquisition aims to strengthen Affle's cost per converted user (CPCU) business in developed markets and expand its global omnichannel advertising capabilities by combining Affle's AI-powered mobile marketing with Perion's presence in Retail Media, CTV, and DOOH. Both companies' boards have approved the deal, which is expected to close in early 2027, subject to regulatory and shareholder approvals.
Indian digital advertising company Affle has announced a definitive agreement to acquire Israeli ad-tech company Perion Network for $420 million. Affle will pay $11.70 per share, representing a 34.5% premium on Perion's closing share price on Friday. The acquisition comes after Perion experienced an 82% decline in market value since April 2023, primarily due to changes in Microsoft's advertising policies affecting its revenue.
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