Perion Network Ltd. (Nasdaq:PERI: TASE:PERI) has bought Content IQ, a New York-based company with offices in Tel Aviv. Content IQ is described as "a digital publishing orchestration system with proprietary data algorithms and analytic tools which deconstruct content, revenue and distribution to solve today's biggest digital publishing challenges."
Content IQ was founded in 2014 by Asaf Katzir and Ziv Yirmiyahu. The company employs 51 people.
Perion's share price is up by more than 14% on the Tel Aviv Stock Exchange today.
The acquisition price is $73.05 million in total, of which $15 million in cash was paid upon closing. An additional maximum $11 million will be paid as a retention incentive. As part of the total consideration, there is a maximum of $47.05 million in earn-outs over a period of two years, tied to revenue and EBITDA-based metrics.
Content IQ had revenue of approximately $26 million in the first nine months of 2019, and expects full-year 2019 EBITDA to be approximately $5.9 million
Perion CEO Doron Gerstel said, "Content IQ’s offering provides Perion with a proprietary solution that gives publishers and brands the tools they need to prosper in a challenging digital world. Content IQ 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."
"We couldn’t be more pleased to be joining the Perion family," said Katzir "We believe that our core technology and offering to the publishers are synergetic to Perion’s vision of establishing a new media supply chain."
Published by Globes, Israel business news - en.globes.co.il - on January 14, 2020
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