After losing most of its value: advertising company sold at huge valuation

Perion Network's stock surges about 30% after announcing its sale to Indian advertising giant Affle for $420 million. The deal reflects a significant premium over the pre-announcement stock price, and comes after the company lost most of its value since its peak in 2023.

Shares of digital advertising company Perion Network surged about 30% in trading on the Tel Aviv Stock Exchange after the company announced its sale to Indian advertising giant Affle for $420 million. The deal reflects a significant premium over Friday's closing price. Perion Network is an Israeli technology company providing digital advertising solutions, including advertising on smart TVs, digital screens, and retail platforms. In recent years, the company has tried to adapt to market changes and strengthen its position in artificial intelligence, among other things through the Perion One platform. However, it faced turmoil: since its peak in 2023, it lost a significant portion of its value, mainly due to a change in Microsoft's revenue-sharing policy on the Bing search engine, which hurt its revenues. The article notes that the deal marks a significant turning point for the company.