Key Highlights

  • Perion shares were up 30.46 percent at USD 11.35 in pre-market trading on November 2, 2026.
  • The company signed a definitive Merger agreement on November 1, 2026 at USD 11.70 per share in cash.
  • The offer is a 34.5 percent premium to the October 30, 2026 close, with an Equity value of about USD 420 million.
  • A 40-day go-shop period runs until December 11, 2026.

What moved Perion shares in pre-market trading

Perion Network (NASDAQ:PERI) climbed 30.46 percent to USD 11.35 in pre-market trading on November 2, 2026. The move followed a company press release dated November 1, 2026 announcing a definitive merger agreement with Affle, an India-based mobile Advertising group.

The pre-market price sits just under the offer. The gap to USD 11.70 is about 2.99 percent of the Offer Price (calculated), a spread that usually reflects timing and completion risk.

The terms of the Affle agreement

Affle will acquire Perion for USD 11.70 per share in cash. The company said this is a 34.5 percent premium to the October 30, 2026 close, the last trading day before signing, and values the equity at about USD 420 million.

The Perion board approved the deal unanimously. The company said it is not subject to a financing condition. Closing is expected in early 2027, subject to Perion Shareholder approval and expiry or termination of the Hart-Scott-Rodino waiting period, among other conditions.

The agreement includes a go-shop period. Perion and its financial adviser may solicit competing proposals until 11:59 PM Israel time on December 11, 2026. The company said there is no assurance this will produce a superior offer.

Business background and recent results

Perion is an Israel-based advertising technology company. Its Perion One platform serves brands and agencies across connected TV, digital out-of-home and retail media.

In an investor presentation furnished to the SEC on June 29, 2026, the company reported 2025 pro forma Perion One Revenue of USD 439.9 million and Adjusted EBITDA of USD 45.2 million. First quarter 2026 revenue was USD 90.4 million, with Adjusted EBITDA of USD 0.5 million.

It reaffirmed 2026 Adjusted EBITDA guidance of USD 50 million to USD 54 million and reported net cash of USD 293 million as of March 31, 2026.

Deal risks and conditions

Merger agreements carry completion risk. Shareholders could vote against the transaction, regulators could delay clearance, or a competing bidder could emerge during the go-shop. A termination fee may apply in some circumstances, though its amount was not identified in the materials reviewed.

With an all-cash offer, the share price now tends to track the probability and timing of closing rather than operating results alone.

What to watch next

Watch for the proxy statement, the shareholder meeting date and any Hart-Scott-Rodino developments. The December 11, 2026 go-shop deadline is the next fixed date. Perion's third quarter 2026 report would also be a data point while the transaction is pending.