Perion Network Ltd. (NASDAQ: PERI) today announced it has closed on the acquisition of Grow Mobile, Inc. This acquisition extends Perion’s offerings in mobile advertising, enabling app developers to buy, track, optimize, and scale advertising campaigns from a single dashboard.
“This acquisition accelerates our position as a leader in the management of mobile advertising campaigns,” said Tomer Pascal, General Manager of Perion Lightspeed. “By incorporating Grow Mobile into our portfolio of solutions, we are providing app developers with a robust toolset to build and manage their mobile offerings.”
About Grow Mobile, Inc.
Grow Mobile simplifies the
complexity of mobile app advertising, enabling companies to rapidly
acquire new customers, increase user engagement and maximize revenue.
The company’s proprietary mobile advertising management platform
streamlines the process of buying ads across multiple channels, with an
integrated solution suite that delivers sophisticated reports for
quickly analyzing results, optimizing performance and increasing ROI.
Grow Mobile is headquartered in San Francisco with offices in New York
and is venture-backed by Signia Venture Partners and Bessemer Venture
Partners. For more information, visit www.growmobile.com.
Follow us on Twitter @growmobile
About Perion Network Ltd.
Perion powers innovation. Perion
is a global performance-based media and Internet company, providing
online publishers and app developers advanced technology and a variety
of intelligent, data-driven solutions to monetize their application or
content and expand their reach to larger audiences, based on its own
experience as an app developer. Our leading software monetization
platform, Perion
Codefuel, empowers digital businesses to optimize installs, analyze
data and maximize revenue. Our app promotion platform, Perion
Lightspeed, enables developers to make wise decisions on where to
spend advertising budgets to produce the highest yield and the most
visibility. The Perion team brings decades of experience, operating and
investing in digitally-enabled businesses, and we continue to innovate
and create value for the app ecosystem. More information about Perion
may be found at www.perion.com. Follow
Perion on Twitter @perionnetwork.
Forward Looking Statements
This press release contains
historical information and forward-looking statements within the meaning
of The Private Securities Litigation Reform Act of 1995 with respect to
the business, financial condition and results of operations of Perion.
The words “will”, “believe,” “expect,” “intend,” “plan,” “should” and
similar expressions are intended to identify forward-looking statements.
Such statements reflect the current views, assumptions and expectations
of Perion with respect to future events and are subject to risks and
uncertainties. Many factors could cause the actual results, performance
or achievements of Perion to be materially different from any future
results, performance or achievements that may be expressed or implied by
such forward-looking statements, or financial information, including,
among others, the failure to realize the anticipated benefits of the
transaction; risks entailed in integration, including employee retention
and customer acceptance; the risk that the transaction will divert
management and other resources from the ongoing operations of the two
businesses or otherwise disrupt the conduct of those businesses,
potential litigation associated with the transaction, and general risks
associated with the business of Perion, including changes in the markets
in which the businesses operate and in general economic and business
conditions, loss of key customers, unpredictable sales cycles,
competitive pressures, market acceptance of new products, inability to
meet efficiency and cost reduction objectives, changes in business
strategy and various other factors, whether referenced or not referenced
in this press release. Various other risks and uncertainties may affect
Perion and its results of operations, as described in reports filed by
the Company with the Securities and Exchange Commission from time to
time, including its annual report on Form 20-F for the year ended
December 31, 2013. Perion does not assume any obligation to update these
forward-looking statements.
Source: Perion Network Ltd.
Contacts:
Deborah Margalit, +972-3-7696100
investors@perion.com
or
Hayden/MS-IR
LLC
Brett Maas, 646-536-7331
Brett@haydenir.com
or
Miri
Segal-Scharia, 917-607-8654
msegal@ms-ir.com