Israeli digital advertising solutions company Perion Network Ltd. (Nasdaq:PERI: TASE:PERI) has announced the renewal of a multi-year strategic partnership with US software giant Microsoft (Nasdaq: MSFT).
The new agreement, between Microsoft Advertising and Perion's search technology division CodeFuel is for four years until 2024.
"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," Perion's announcement said.
"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 Perion CEO Doron Gerstel. "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's share price closed up 2.09% on Nasdaq yesterday, at $7.08, giving the company a market cap of $191 million.
Published by Globes, Israel business news - en.globes.co.il - on November 3, 2020
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