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Perion With Conduit Seen Besting AOL in U.S. Searches

Perion Network Ltd., the Israeli maker of Internet tools set for the longest stretch of quarterly gains on record, will surpass AOL Inc. in the U.S. search market after a reverse merger with a unit of Conduit Ltd., Chief Executive Officer Josef Mandelbaum said.

“We’re going to have 2 percent of U.S. searches and be bigger than AOL,” Mandelbaum said in an interview with Bloomberg Television in Tel Aviv yesterday. It’s “certainly possible” that Perion achieves $1 billion in sales in the next three to five years.