Perion and Microsoft Renew Their Strategic Partnership for Four Years
November 02 2020 - 9:15AM
Business Wire
The new contract is a major factor in Perion’s
path to achieve sustainable and highly profitable double-digit
annual revenue growth going forward
Perion Network (NASDAQ: PERI) announced today the renewal of a
multi-year strategic partnership with Microsoft (NASDAQ: MSFT) to
drive search advertising business growth through Perion’s search
technology division, CodeFuel, and provide a more immersive
experience across desktop and mobile.
The continuing collaboration between the companies will enable
CodeFuel to further grow its publisher relationships offering,
lucrative search technology solutions, and sophisticated expertise
for monetizing their digital properties. These include shopping,
product comparison and content websites, applications, browser
extensions, mobile launchers, and white label search engines.
Leveraging CodeFuel’s publishers’ network enables Microsoft to
increase search advertising market share and connect advertisers to
millions of potential customers while enriching user experience
through publisher properties.
In the past two years, CodeFuel has exhibited significant growth
through empowering publishers to create new revenue streams and
unique search experiences, while focusing on increasingly high
quality monetization solutions to track search demand.
“Since 2010, we have enjoyed a strong, close partnership with
Microsoft, consistently delivering innovative search solutions in a
dynamic market, while maintaining high-quality standards and
advertiser brand safety,” said Doron Gerstel, CEO of Perion. “As we
enter the next phase of our partnership, we are confident that our
complementary resources will continue to yield innovation and we
are proud of the ability to help publishers monetize their traffic
during all economic cycles.”
“In this renewal, the partnership with Perion and CodeFuel has
been throroughly modernized to ensure an optimal experience for
Microsoft Bing consumers and advertisers,” said Kya
Sainsbury-Carter, VP of Global Partnerships for Microsoft
Advertising. “Perion has leaned collaboratively into shared goals
for brand safety and user protections, and we look forward to
growing into this new era together.”
“We are delighted to continue to work closely with Microsoft on
Publisher Search Solutions for desktop and mobile. Our mission is
to continue to empower publishers with advanced technology
solutions to grow their businesses. An enhanced search experience
has proven itself to be a predictable and valuable path for growth,
both for our publishers and us,” said Tal Jacobson, General Manager
at CodeFuel. “This collaboration will enable publishers to expand
into new platforms and vertical search solutions for eCommerce,
content, and news” Jacobson concluded.
About CodeFuel
CodeFuel is the search technology division of Perion Network
Ltd. (NASDAQ: PERI), and the creator of private search engine
Privado. The company provides monetization solutions for websites,
extensions, apps, and search engines, helping publishers boost
search advertising revenue through ads, shopping, and news
products. CodeFuel enjoys a long-standing relationship with
Microsoft Bing, and additional search partners and content
providers. For more information about CodeFuel, visit
https://www.codefuel.com/.
About Perion Network Ltd.
Perion is a global technology company that provides agencies,
brands and publishers with innovative solutions that cover the
three pillars of digital advertising. From its data-driven
Synchronized Digital Branding platform and high-impact ad formats
in the display domain; to its powerful social media platform; to
its branded search network, Perion is well-positioned to capitalize
on any changes in marketers’ allocation of digital advertising
spend. More information about Perion can be found at
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 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
companies and businesses we acquired and may acquire in the future,
risks entailed in integrating the companies and businesses we
acquire, including employee retention and customer acceptance; the
risk that such transactions will divert management and other
resources from the ongoing operations of the business or otherwise
disrupt the conduct of those businesses, potential litigation
associated with such transactions, and general risks associated
with the business of Perion including intense and frequent 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
Perion with the Securities and Exchange Commission from time to
time, including its annual report on Form 20-F for the year ended
December 31, 2019 filed with the SEC on March 16, 2020. Perion does
not assume any obligation to update these forward-looking
statements.Source: Perion Network Ltd.
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version on businesswire.com: https://www.businesswire.com/news/home/20201102005556/en/
Rami Rozen VP of Investor Relations +972 52 569 4441
ramir@perion.com
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