Perion Closes Acquisition of Grow Mobile
July 16 2014 - 8:30AM
Business Wire
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 StatementsThis 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.
Perion Investor RelationsDeborah Margalit,
+972-3-7696100investors@perion.comorHayden/MS-IR LLCBrett
Maas, 646-536-7331Brett@haydenir.comorMiri Segal-Scharia,
917-607-8654msegal@ms-ir.com
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