Region: Global (India / Israel / United States) | Date: November 2, 2026
Affle 3i Limited has announced that its Israel-based step-down subsidiary, Affle 3iL Ltd., has signed a definitive agreement to acquire 100% of the outstanding shares of Perion Network Limited for $11.70 per share in an all-cash transaction, valuing the company at approximately $420 million. The deal marks one of the largest advertising-technology acquisitions of the year and brings together two companies with complementary strengths in performance marketing and omnichannel digital advertising.
Perion, headquartered in Tel Aviv, is a technology company with a strong North American footprint and dual listings on Nasdaq and the Tel Aviv Stock Exchange. Its AI-powered technology stack provides omnichannel advertising solutions across multiple channels, including Retail Media, Connected TV (CTV) and Digital Out-of-Home (DOOH). Over the past three years, Perion has completed three strategic acquisitions and brought its expanding business segments together under its Perion One platform, building an integrated suite that spans demand generation, engagement and measurement.
The acquisition is aimed at strengthening Affle’s cost-per-converted-user (CPCU) business across developed markets while expanding its global omnichannel advertising capabilities. The combination will bring together Affle’s AI-powered consumer platform and mobile marketing expertise with Perion’s established presence in upper-funnel digital channels. Following completion, Affle expects to operate as a global omnichannel platform, delivering consumer conversion solutions to thousands of advertisers across more than 100 countries and multiple industry verticals.
One of the most notable aspects of the deal is its focus on commerce outcomes across emerging media formats. The combined platform will look to drive retail commerce results through CTV-to-Cart and DOOH-to-Cart solutions, connecting awareness-driven media such as digital out-of-home directly to purchase outcomes. This reflects a broader industry push to make upper-funnel formats measurable and commerce-enabled, linking screens in the physical world to conversion and sales data.
“We are excited to welcome the Perion family on board as we continue to strengthen the foundations of our global platform,” said Anuj Khanna Sohum, Chairperson, Managing Director and CEO of Affle, commenting on the transaction. The company expects the deal to expand its total addressable market by integrating Perion’s upper-funnel digital advertising capabilities in developed markets with Affle’s deeper-funnel mobile marketing and performance-led consumer conversion strengths in emerging markets.
The transaction is significant for the DOOH industry specifically because it signals that major advertising-technology groups are beginning to treat digital out-of-home as a core commerce channel rather than a niche medium. As programmatic DOOH matures and measurement improves, acquirers are increasingly attracted to the combination of physical-world reach and digital addressability that DOOH offers. The deal also illustrates the broader consolidation trend in ad tech, where scale, data and channel coverage are becoming decisive competitive advantages.
Completion of the acquisition remains subject to customary closing conditions, including regulatory approvals. The companies expect to provide further integration details after closing. Analysts see the transaction as validation of the growing role that physical-world media plays in digital performance marketing, with DOOH increasingly serving as a bridge between brand awareness and measurable commerce outcomes.
Why it matters: Affle’s $420 million acquisition of Perion brings DOOH into a global omnichannel performance platform and pushes the industry toward measurable, commerce-enabled out-of-home through DOOH-to-Cart solutions.
Source: MediaNews4U
