Perion Signs $11.70/Share All-Cash Merger With Affle, ~$420M Equity Value
PERI sits 49% above its 52-week low of $7.625.
Summary
Perion agreed to be acquired by Affle for $11.70 per share in cash, about $420 million of equity value and a 34.5% premium to the October 30, 2026 close, with a 40-day go-shop and a targeted early-2027 close.
Key Events · M&A and Partnerships · PERI
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Affle to Buy Perion at $11.70 Cash
Merger agreement signed November 1, 2026 values each ordinary share at US$11.70 in cash, about $420 million of equity value and a 34.5% premium to the October 30, 2026 close.
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Go-Shop and Break Fee Set
A 40-day go-shop runs to 11:59 p.m. Israel time on December 11, 2026; the termination fee is US$14,700,000, cut to US$10,500,000 if a definitive deal for a competing proposal is signed during the go-shop.
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Financing Committed, Not a Condition
Affle entities signed an equity commitment letter and Citibank, N.A. is providing debt financing; the merger is not subject to a financing condition.
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Closing Targeted for Early 2027
Requires majority shareholder approval, HSR clearance, and Israeli waiting periods of at least 50 days from the merger proposal filing and 30 days from shareholder approval; Perion expects completion in early 2027.
Analysis · PERI · Technology
Perion has agreed to be bought by Affle at $11.70 per share in cash, roughly $420 million of equity value and a 34.5% premium to the October 30, 2026 close. That price becomes the reference point for the stock: the 40-day go-shop (through December 11, 2026) and the $14.7M break fee ($10.5M if a deal is signed during the go-shop) leave room for a topping bid, but the base case is now a cash exit rather than standalone execution. Closing is targeted for early 2027 and needs a majority of shares voted, HSR clearance, and Israeli statutory waiting periods of at least 50 days from the merger proposal filing and 30 days from shareholder approval. Affle has committed equity from its own entities plus Citibank debt financing, and the deal is not conditioned on financing. Perion shares will be delisted from Nasdaq and the TASE after closing.
At the time of this filing, PERI was trading at $11.38 on NASDAQ in the Technology sector, with a market capitalization of approximately $342.2M. The 52-week trading range was $7.63 to $11.27. This filing was assessed with positive market sentiment and an importance score of 10 out of 10.