Perion Network Acquires Undertone, for $180M
Summary
Perion Network Ltd. (NASDAQ: PERI), a Tel Aviv, Israel and NY-based performance-based media and Internet company, acquired Undertone, a New York, NY-based provider of cross-screen advertising solutions, for $180m in total enterprise value.The acquisition allows Perion to continue its strategic evolution into a global technology company delivering advertising solutions to brands and publishers.Led by CEO Josef Mandelbaum, Perion provides online publishers and app developers with advanced technology and a variety of solutions to monetize their application or content and expand their reach to larger audiences, based on its own experience as an app developer.The company’s software monetization platform, Codefuel, allows digital businesses to optimize installs, analyze data and maximize revenue.Led by Corey Ferengul, CEO, Undertone provides cross-screen digital brand advertising solutions.
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