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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Affle 3I Ltd

Affle 3i to acquire Perion for ~US$ 420 million, expanding CPCU business

M&A ◆ Monitor Closely MEDIUM RISK
📅 Filed on BSE: 01 Nov 2026, 05:42 PM IST  ·  BSE ID: aa6c0dc4-f817-4b56-8415-d00ae0b49083
View Original BSE Filing (PDF)
💡
In Simple Terms
Affle is buying another tech company, Perion, for around US$ 420 million to expand its advertising services globally.
🤖 AI Summary
  • Affle 3iL Ltd., a step-down subsidiary, to acquire Perion Network Limited for an implied equity value of ~US$ 420 million.
  • Perion shareholders will receive US$ 11.70 per share in an all-cash transaction.
  • Acquisition aims to scale Affle's Cost Per Converted User (CPCU) business across developed markets.
  • Perion is an Israeli technology company providing omnichannel advertising solutions across Retail Media, CTV, DOOH.
  • Transaction has board approvals, pending regulatory clearances and Perion shareholder approval, with a go-shop period.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Implied Equity Value of Perion
~US$ 420 million
Perion Shareholder Consideration
US$ 11.70 per share
Perion Cash Balance (as of Sept 30, 2026)
~US$ 228 million
🏢 How This Affects the Company
📈
Business Impact
This acquisition significantly expands Affle's global footprint and technology capabilities, integrating Perion's omnichannel advertising solutions across Retail Media, CTV, and DOOH. It aims to broaden the total addressable market for Affle's CPCU business, particularly in developed markets.
💰
Financial Impact
Affle plans to fund the ~US$ 420 million acquisition through a combination of committed bank financing and available cash resources. Perion had a cash balance of ~US$ 228 million as of September 30, 2026, and no financial debt.
⚙️
Operational Impact
The combined entity will form a global omnichannel platform, enabling Affle to drive premium consumer conversions for advertisers in 100+ countries. It integrates Perion's established presence in upper funnel digital advertising with Affle's mobile marketing leadership.
⚠️
Risk Impact
The transaction is subject to closing conditions, including required regulatory approvals and Perion shareholder approval, which introduces execution risk until completion. Affle will also record transaction costs and related expenses in its opening balance sheet for Perion.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from Affle 3i shareholders based on this announcement.
👤
Who Is Affected
Affle 3i shareholders are affected by the company's strategic decision to acquire Perion for ~US$ 420 million, a material business expansion. Perion shareholders will receive US$ 11.70 per share.
🔍
Management Signal
The acquisition signals management's intent to pursue inorganic growth, expand global footprint, and strengthen AI-powered consumer conversion capabilities, aligning with its 10X decadal growth vision.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Regulatory approval announcements for the Perion acquisition.
Perion shareholder meeting outcome regarding the acquisition.
Affle 3i's funding details for the ~US$ 420 million acquisition.
MEDIUM RISK Transaction is subject to regulatory and shareholder approvals, indicating closing is not guaranteed.
💡 Investor Takeaway
Affle 3i's step-down subsidiary will acquire Perion Network Limited for an implied equity value of ~US$ 420 million in an all-cash transaction at US$ 11.70 per share. Perion reported ~US$ 228 million cash as of September 30, 2026, with no financial debt. The deal aims to scale Affle's CPCU business in developed markets.
⚖️ Strengths & Concerns

✅ Positives

  • Acquisition of Perion for ~US$ 420 million expands Affle's global reach and omnichannel advertising capabilities in developed markets.
  • Perion's strong cash balance of ~US$ 228 million as of September 30, 2026, and no financial debt provides financial flexibility post-acquisition.

⚠️ Concerns

  • The ~US$ 420 million all-cash acquisition will require substantial funding from committed financing and cash, impacting Affle's liquidity.
  • The transaction is subject to regulatory and Perion shareholder approvals, creating uncertainty until all conditions are met.
📅 Company Track Record
A past filing on November 1, 2026, informed about Affle's subsidiary to acquire Perion Network for ~US$ 420 million, expanding global reach. This press release provides further details on the same announced acquisition.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What is the implied equity value of Perion Network Limited being acquired by Affle 3i?
Affle 3i's subsidiary will acquire Perion Network Limited for an implied equity value of ~US$ 420 million in an all-cash transaction.
What will Perion shareholders receive per share in this acquisition?
Perion shareholders are set to receive US$ 11.70 per share for all outstanding shares and unvested equity awards.
What was Perion Network's cash balance as of September 30, 2026?
As of September 30, 2026, Perion Network Limited had a cash balance of ~US$ 228 million and no financial debt.
How does Affle 3i plan to fund the acquisition of Perion?
Affle 3i plans to fund the acquisition through a combination of committed financing from banks and available cash resources.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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