Three Affle entities stand behind the $11.70 Perion cash offer, and the release does not say whether the parent guarantees it

Perion Network (PERI) announced at 5:30 AM ET on Sunday, Nov 1, 2026 that it signed a definitive merger agreement with Affle. Perion holders would receive $11.70 per share in cash, a 34.5% premium to the Oct 30, 2026 close. The Quantisnow database lists Perion as a Technology company with a $348 million market cap. It was the largest-company signal item on the wire in the 18 hours covered by our data pull.

This analysis does not revisit the price. It covers three things the primary release sets out: which Affle entity signs, what Perion becomes after the merger, and how a stock listed on two exchanges, Nasdaq and the Tel Aviv Stock Exchange (TASE), exits both. US markets are closed for the weekend. The next session opens Monday, Nov 2 at 9:30 AM ET.

Three Affle entities sit between Perion holders and the cash

The Business Wire release refers to the acquiring group as "Affle 3i Limited ('Affle')." The entity that actually signed the merger agreement is Affle 3iL Ltd. The release describes it as a subsidiary of Affle International Pte. Ltd. Under the agreement, a subsidiary of Affle merges with and into Perion, and Perion survives.

Layer	Entity	Role stated in the Nov 1 release
Group parent	Affle 3i Limited	Referred to as "Affle"
Intermediate holder	Affle International Pte. Ltd.	Parent of the signing buyer
Signing buyer	Affle 3iL Ltd.	Party to the merger agreement
Merger sub	Subsidiary of Affle	Merges with and into Perion
Target	Perion Network Ltd.	Survives as a wholly owned subsidiary

This chain matters because the company that signs the agreement is the one that owes the cash. The announcement does not say whether Affle 3i Limited guarantees its subsidiary's obligations. A parent guarantee, or the absence of one, is something to look for in the merger agreement once it is filed. The Form 8-K guide explains where material agreements usually appear in a filing.

What the release commits to, and what it leaves to the agreement

The release commits to the following:

• Price and form. $11.70 per share, all in cash.
• Premium. 34.5% over the Oct 30, 2026 closing price.
• Board. Perion's board approved the agreement unanimously.
• Go-shop. A 40-day period in which Perion can actively solicit alternative proposals. A standard no-shop only lets a target respond to bids it did not invite. Our mergers and acquisitions guide explains how the two clauses differ.
• Brand. After closing, Perion becomes wholly owned by Affle and "will continue to operate under the Perion brand."
• Listings. Perion's shares are expected to be delisted from Nasdaq and TASE when the deal closes.

Both companies explain the deal in terms of products. Affle's chair, managing director and CEO, Anuj Khanna Sohum, said the deal pairs Affle's mobile marketing business with Perion's presence in retail media, connected TV (CTV), digital out-of-home (DOOH) and other digital channels. Perion CEO Tal Jacobson said Perion has spent "the past several years" becoming a "differentiated advertising technology company."

The release's cautionary language covers both the expected timing and the completion of the deal. Closing therefore depends on conditions that the announcement does not list in full. Secondary reports add a few details, and they are attributed to those outlets here. Dealroom puts the equity value at about $420 million. Storyboard18 reports that the $11.70 price covers outstanding equity awards "as per their vesting schedule," and that Affle expects to close in early 2027. These points should be checked against the merger agreement once it is filed.

Two listings, one exit

Perion's release lists the ticker as "NASDAQ & TASE: PERI," so its shareholders hold the stock on two venues. The announcement treats both the same way. Once the merger closes, both listings are expected to end. Under the all-cash terms, holders on either exchange receive cash rather than shares in Affle.

For holders, this means the PERI ticker will disappear rather than convert into another stock. There is no exchange ratio to track and no share price on the buyer's side that could change the value of the consideration. What remains uncertain is whether the deal closes, whether the go-shop produces a better offer, and when payment happens. Our guide to stock exchanges and delisting explains what happens to a ticker after a cash merger closes.

The two listings also mean news can arrive from two directions. Filings with US regulators and disclosures in Tel Aviv may not appear at the same time. A news watchlist that covers both sources reduces the chance of missing an update.

What to watch next

• Monday, Nov 2, 9:30 AM ET. The first US session since the announcement. New wire items will appear on Perion's company page.
• The merger agreement. The full text should show whether Affle 3i Limited guarantees the deal, the complete closing conditions, termination fees, and how equity awards are treated. The latest SEC filings feed shows new filings as they post.
• The go-shop. Any competing proposal would surface during the 40-day window. The release frames this window as active solicitation, not passive waiting.
• The shareholder meeting notice. None of the coverage cited here gives a meeting date. The notice will be the first concrete test of the early-2027 timing Storyboard18 reports.