Perion Announces Merger Agreement With Affle as Revenue Falls 5% in Second Quarter
Key Facts
Perion announced that it had entered into a definitive merger agreement with Affle, according to the title of the transaction announcement published on November 1, 2026. The available information does not include verified details on the consideration or closing terms, so it cannot be concluded that the deal is entirely cash-funded. The announcement follows results showing a decline in Perion revenue in the second quarter of 2026, while Perion One spend rose over the same period. The company also lowered its full-year ex-TAC contribution guidance range. The figures place the agreement in the context of Perion’s shift toward multiple advertising channels, but the deal’s details and financial impact have yet to be clarified.
Perion revenue was about $98.2 million in the second quarter of 2026, down 5% from the same quarter in 2025, according to the company’s results. By contrast, Perion One spend rose 15% year over year to $156.7 million. The two figures measure different aspects of the business: revenue declined, while spend through the platform increased. The available information did not provide details explaining the relationship between the change in spend and the revenue decline. Growth in spend alone therefore cannot be taken as evidence of improved revenue in the quarter.
Perion describes its Perion One product as a “marketing operating system for performance advertising” and presents Outmax as an “intelligent optimization agent.” The description reflects the company’s focus on campaign management and optimization tools, while the channels listed on its website include connected TV, digital out-of-home, audio and in-store retail media. The list also includes YouTube, Meta, TikTok, websites and search engines. This range provides context on Perion’s products and channels, but does not in itself establish that the Affle agreement is intended to integrate or expand them. The information that could be verified did not include details on how the two companies might integrate.
In August 2026, Perion announced its acquisition of PRN, an in-store retail media company, in a deal valued at up to $12 million. The company said in its disclosure that the deal was “worth up to $12 million” and that it expected it to be accretive after closing. The acquisition adds to Perion’s moves in retail media, one of the channels it lists among its services. But the PRN disclosure does not specify any connection between that deal and the Affle agreement, or reveal a plan for integrating the two parties. Based on the available information, the new agreement remains separate from the details of the earlier PRN deal.
Perion narrowed its 2026 ex-TAC contribution guidance range to $215–225 million from $215–235 million, according to its second-quarter results. The CFO said the revision reflected first-half performance and greater visibility into second-half trends. At the same time, he said the board expects acceleration in the second half of 2026, with contributions beginning from signed strategic agreements and momentum in Perion One. The CEO said the company had accelerated its shift away from the open web over the previous two years through organic investment and acquisitions. The company linked quarterly momentum to connected TV, digital out-of-home, retail media and the Outmax agent; these factors remain part of its operating context as more details on the Affle agreement are awaited.