Perion Acquires Content IQ and Its Breakthrough Pub-Tech Optimization Solution to Strategically Propel Disruptive Synchronized Digital Branding Offering
Strategic and Accretive Acquisition Creates Synergies Across Perion’s Business Units and Prepares Perion for “Cookie-Less” Future
Content IQ Financial Highlights and Outlook
-
Revenues for the first nine months of 2019 were approximately
$26 million -
Adjusted EBITDA for the first nine months of 2019 was approximately
$4 million -
Revenues for Full-Year 2019 are expected to be approximately
$39 million -
GAAP Net Income Full-Year 2019 is expected to be approximately
$5.5 million -
Adjusted EBITDA Full-Year 2019 is expected to be approximately
$5.9 million
Under the terms of the agreement, Perion acquired all the shares of CIQ for a total consideration of
Mr. Gerstel continued, “CIQ also prepares Perion for a ‘cookie-less’ environment, as GDPR, CCPA and the advent of other regulations reshape the digital advertising ecosystem. Without cookies, publishers will have to find new ways to measure and track user engagement, thus increasing the value of content and contextual advertising. The acquisition of CIQ positions Perion to effectively address these evolving needs of brands, through the addition of industry-defining ‘pub-tech capabilities’, which use AI and machine learning to optimize content and page-level reader engagement.”
As part of its integration plan, Perion will relocate the CIQ New York operations into its
“We couldn’t be more pleased to be joining the Perion family,” said
Ziv Yirmiyahu, co-founder of CIQ, added, “This acquisition is mutually beneficial. For the entire CIQ team, there is a significant opportunity to achieve exponential growth by leveraging Perion’s existing network of hundreds of premium publishers and direct brand relationships, as well as their partnership with Microsoft Bing.”
Perion’s management will present today at the Needham 22nd Growth conference.
http://wsw.com/webcast/needham94/peri/
Updated IR presentation will be available on Perion’s investor relations website at https://www.perion.com/ir-info/ as of
About
Perion is a global technology company that delivers advertising solutions to brands and publishers. Perion is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. More information about Perion may be found at www.perion.com, and follow Perion on Twitter @perionnetwork.
About Content IQ
Content IQ is a privately held company founded in 2014, based in
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 and Content IQ. 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 and the acquired company, Content IQ, 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 and Content IQ 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20200114005340/en/
Source:
Perion Network Ltd.
Investor relations
Rami Rozen
+972 (73) 398-1000
investors@perion.com
Source: Perion Network Ltd.