Affle 3i Ltd. shares surged over 10% on Monday, November 2, following the company's robust Q2 FY27 results that demonstrated strong growth across key financial metrics. The company reported consolidated revenue from operations of ₹783 crore in Q2 FY27, representing a 21.02% year-on-year increase from ₹647 crore in the corresponding period last year. Revenue also showed sequential growth of 5.53% quarter-on-quarter from ₹742 crore in Q1 FY27. EBITDA increased 23.65% YoY to ₹181.03 crore, compared with ₹146.40 crore a year ago, while EBITDA margin improved to 23.12% in Q2 FY27, up from 22.63% in the year-ago quarter and 21.63% in Q1 FY27. Profit after tax (PAT) rose 17.91% YoY to ₹129.7 crore from ₹110 crore in Q2 FY26, with sequential growth of 6.84% from ₹121.4 crore in the previous quarter.
Technology firm Affle 3i Ltd announced the acquisition of Israel-based advertising technology company Perion Network Limited for an implied equity value of approximately $420 million. According to reports from CNBC TV18, Perion shareholders will receive $11.70 per share in an all-cash transaction. The deal involves Affle 3iL Ltd., the company's Israel-based step-down subsidiary, signing a definitive agreement to acquire 100% of Perion's issued and outstanding shares, including unvested equity awards as per their vesting schedule. As per Business Upturn, the acquisition places an implied equity value on Perion at approximately US$ 420 million and will see Affle's Israel-based subsidiary absorb all outstanding shares of Perion, an Israeli technology firm specialising in AI-powered advertising solutions, listed on both NASDAQ and the Tel Aviv Stock Exchange. The acquisition will combine Perion's presence across upper-funnel digital advertising channels in developed markets with Affle's capabilities in deeper-funnel mobile marketing and AI-powered performance-led consumer conversions in emerging markets.
According to reports from CNBC TV18, Perion has no financial debt and maintained a cash balance of approximately $228 million as of September 30, 2026. Affle plans to finance the acquisition through a combination of committed bank financing and available cash resources. The company expects to achieve a revenue run rate of more than $700 million in financial year 2028 and anticipates the acquisition will become accretive to earnings per share by the end of the first year after the transaction closes. As per Business Upturn, the transaction is supported by banks and available cash resources, with the acquisition underscoring Affle's commitment to its long-term growth vision, aiming for a tenfold increase over a decade by enhancing its AI-driven performance-led conversions in developed markets. LUMA Partners LLC is advising Affle financially, with Barnea Jaffa Lande & Co. serving as their legal advisor, while Citibank is facilitating the financing aspects of the merger.
Anuj Khanna Sohum, Chairperson, MD and CEO of Affle, commented on the acquisition: "We are excited to welcome the Perion family on board as we continue to strengthen the foundations of our AI-powered Consumer Platform Tech Stack. Through this acquisition, we are bringing together our highly complementing tech capabilities, innovation culture and unique IP to global scale. Combining Affle's robust mobile marketing leadership with Perion's established presence in digital advertising will enable improved outcomes for both advertisers and publishers." According to CNBC TV18, shares of Affle 3i Ltd ended at ₹1,345.00, down by ₹37.60, or 2.72%, on the BSE following the announcement. The transaction has been approved by the boards of directors of both companies and is subject to closing conditions, including regulatory clearances and approval from Perion shareholders. The acquisition is expected to close in early 2027 and will be executed through a reverse triangular merger.
