From Adweek · Kendra Barnett · · 1m 20s
Perion Sells $420M Adtech Business to Affle
Perion exits Nasdaq as Indian firm Affle buys its adtech for $420m.
In brief
Perion exits Nasdaq as Indian firm Affle buys its adtech for $420m. Indian performance marketing firm Affle acquired adtech company Perion for $420 million in an all-cash deal, expanding its capabilities across connected TV, digital out-of-home, and retail media. Originally reported by Adweek.
Affle Acquires Perion
Indian performance marketing firm Affle is acquiring adtech company Perion for $420 million in an all-cash deal.
Deal Value Details
The deal values Perion at $11.70 per share, a 34.5% premium on its Oct. 30 closing price.
Strategic Rationale
Affle aims to create a unified full-funnel approach by combining Perion’s upper-funnel capabilities with its mobile performance marketing.
Expected Outcomes
The merger could support 'CTV-to-cart' and 'DOOH-to-cart' outcomes for advertisers, improving ROI across e-commerce, retail, and healthcare.
Perion’s Financial Position
Perion’s stock dropped 79% from its five-year high after the deal announcement, with $192 million paid for its operating business.
Market Context
Open-web ad spending is shrinking as Alphabet, Amazon, and Meta capture 60% of global ad spend outside China this year.
Perion’s Exit Strategy
Perion’s CEO stated the company was built around diversifying away from the open web, with its web channel being the primary revenue drag.
The big picture
Indian performance marketing firm Affle acquired adtech company Perion for $420 million in an all-cash deal, expanding its capabilities across connected TV, digital out-of-home, and retail media.
