Affle to acquire ad-tech firm Perion for $420M in cash

India's Affle 3i, through its Israel-based subsidiary Affle 3iL, signed a definitive agreement to buy Nasdaq- and TASE-listed Perion Network at $11.70 per share in cash, an implied equity value of about $420 million. Perion is a Tel Aviv-based digital advertising technology company with a strong North American footprint.

Why it matters: Affle aims to scale its cost-per-converted-user model across developed markets, using Perion's North American presence.