Perion Announces New 3 Year Agreement with Bing
August 01 2014 - 4:44AM
Business Wire
Perion Network, Ltd. (NASDAQ: PERI) announced today that it has
signed a 3 year agreement with Bing, extending its existing
partnership, starting January 1, 2015 through December 31, 2017.
Upon mutual agreement, the agreement may be renewed for 2018 as
well. The agreement includes desktop and tablet distribution with
limited exclusivity in the United States as well as mobile
distribution.
“We are very excited to renew with Microsoft for another 3
years. We are committed to providing app developers with great
solutions and working with Microsoft and Bing.com is an important
part of that solution,” commented Ms. Danielle Ullner, Perion VP of
Search Partnerships. “We are particularly excited by the fact that
mobile is part of our agreement and that together we are focused on
building out our end to end technology platform for developers
across all devices.”
In parallel, and in conjunction with the fact that revenues from
Google are no longer material to Perion, the Company decided to
exercise its right to opt-out of its ClientConnect agreement with
Google as of August 31, 2014. The Company continues to work with
Google through its original Perion agreement which expires in June
2015.
In addition to Bing and Google, the Company also has search
distribution partnerships with Ask.com and Yahoo.
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 our 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, 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 / Miri Segal-Scharia646-536-7331 /
917-607-8654Brett@haydenir.com / msegal@ms-ir.com
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