Perfect Corp. (NYSE: PERF) announced its board of directors received a preliminary non-binding proposal from a consortium including CyberLink International Technology Corp. and the company's CEO Alice H. Chang to take the artificial intelligence company private for $1.95 per ordinary share in cash.

The consortium members plan to establish an acquisition vehicle to implement the transaction, according to the March 18 proposal. The transaction would be financed through equity contributions from consortium members in the form of rollover equity and available unrestricted cash from Perfect Corp. Debt financing may be arranged as necessary.

Perfect Corp.'s board will convene to review the proposal and establish a special committee of independent directors to evaluate the offer. The special committee will retain independent legal and financial advisors to assist in its evaluation.

The consortium members collectively own approximately 53.4% of Perfect Corp.'s total issued and outstanding share capital, representing 81.2% of the company's total voting power. This ownership is based on 101,848,671 issued and outstanding ordinary shares as of December 31, 2025, consisting of 85,059,953 Class A ordinary shares and 16,788,718 Class B ordinary shares.

Perfect Corp. cautioned shareholders that its board has not made any decision regarding the proposal. The company stated there is no assurance that any definitive offer will be received, that any definitive agreement will be executed, or that the transaction will be approved or consummated.

The proposed price represents a premium to Perfect Corp.'s recent trading levels, though the company emphasized the preliminary nature of the proposal and the uncertainty surrounding its completion.