Perion Announces Two-Year Renewal with Google
TEL AVIV, Israel & SEATTLE -- April 25, 2013
Perion Network Ltd. (NASDAQ: PERI), today announced it has signed a two-year,
non-exclusive, renewal with Google, extending the Company's relationship with
the search provider, effective May 1, 2013.
Mr. Josef Mandelbaum, Perion’s CEO, said, “This is an important milestone for
our long term growth strategy and we are very pleased to extend our strategic
relationship with Google, now entering its eighth year. While the terms of the
new contract are confidential, we can say that the business terms are slightly
better than those achieved under the previous contract. In addition, I am
happy to report that this renewal signifies our full support of, and
commitment to comply with, Google's updated downloadable software policies."
About Perion Network Ltd.
Perion Network, Ltd. (NASDAQ: PERI) is a global consumer internet company that
develops applications to make the online experience of its users simple, safe
and enjoyable. Perion’s three main consumer brands are: Incredimail, Smilebox
and SweetIM. Incredimail is a unified messaging application enabling consumers
to manage multiple email accounts and Facebook messages in one place with an
easy-to-use interface and extensive personalization features, and is available
in over 100 countries in 8 languages; Smilebox is a leading photo sharing and
social expression product and service that quickly turn life's moments into
digital keepsakes for sharing and connecting with friends and family, in a fun
and personal way. SweetIM is an instant messaging application that enables
consumers to personalize their everyday communications with free, fun and easy
to use content. Perion products have had over 300 million downloads to date
with more than 50 million monthly visitors across all of its brands. Most of
Perion’s applications are monetized through a freemium model. Free versions of
our applications are monetized primarily through our toolbar which generates
search revenue and display advertising revenue, generated through impressions.
A more advanced feature-rich version of many of our products is available with
a premium upgrade. Perion also offers and develops a range of products for
mobile phones and tablets to answer its users increasing mobile demands. For
more information on Perion please visit 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 the Company. 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 the Company with respect to future events and
are subject to risks and uncertainties. Many factors could cause the actual
results, performance or achievements of the Company 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, risks that the Company’s acquisition activities may
disrupt current plans and operations and pose difficulties in employee
retention, risks entailed in integrating acquired business, changes in the
markets in which the Company operates and in general economic and business
conditions, loss of key customers and 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 the Company 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, 2011. The Company does not assume any
obligation to update these forward-looking statements.
Source: Perion Network Ltd.
Perion Investor Relations
Deborah Margalit, +972-3-7696100
Brett Maas / Miri Segal-Scharia
646-536-7331 / 917-607-8654
Brett@haydenir.com / email@example.com
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