Perion Announces Two-Year Renewal with Google
April 25 2013 - 10:00AM
Business Wire
Perion Network Ltd. (NASDAQ: PERI), today announced it has
signed a two-year, non-exclusive, renewal with Google, extending
the Company's relationship with the search provider, effective May
1, 2013.
Mr. Josef Mandelbaum, Perion’s CEO, said, “This is an important
milestone for our long term growth strategy and we are very pleased
to extend our strategic relationship with Google, now entering its
eighth year. While the terms of the new contract are confidential,
we can say that the business terms are slightly better than those
achieved under the previous contract. In addition, I am happy to
report that this renewal signifies our full support of, and
commitment to comply with, Google's updated downloadable software
policies."
About Perion Network Ltd.
Perion Network, Ltd. (NASDAQ: PERI) is a global consumer
internet company that develops applications to make the online
experience of its users simple, safe and enjoyable. Perion’s three
main consumer brands are: Incredimail, Smilebox and SweetIM.
Incredimail is a unified messaging application enabling consumers
to manage multiple email accounts and Facebook messages in one
place with an easy-to-use interface and extensive personalization
features, and is available in over 100 countries in 8 languages;
Smilebox is a leading photo sharing and social expression product
and service that quickly turn life's moments into digital keepsakes
for sharing and connecting with friends and family, in a fun and
personal way. SweetIM is an instant messaging application that
enables consumers to personalize their everyday communications with
free, fun and easy to use content. Perion products have had over
300 million downloads to date with more than 50 million monthly
visitors across all of its brands. Most of Perion’s applications
are monetized through a freemium model. Free versions of our
applications are monetized primarily through our toolbar which
generates search revenue and display advertising revenue, generated
through impressions. A more advanced feature-rich version of many
of our products is available with a premium upgrade. Perion also
offers and develops a range of products for mobile phones and
tablets to answer its users increasing mobile demands. For more
information on Perion please visit www.perion.com.
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 the
Company. 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 the Company with respect to
future events and are subject to risks and uncertainties. Many
factors could cause the actual results, performance or achievements
of the Company 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, risks that the Company’s acquisition
activities may disrupt current plans and operations and pose
difficulties in employee retention, risks entailed in integrating
acquired business, changes in the markets in which the Company
operates and in general economic and business conditions, loss of
key customers and 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 the Company 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, 2011. The
Company does not assume any obligation to update these
forward-looking statements.
Source: Perion Network Ltd.
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