Perion Acquires Ad Firm Undertone for $180m
- Wednesday, December 2nd, 2015
- Share this article:
Global performance-based ad-tech firm Perion has announced that it has acquired cross-screen advertising solutions company Undertone for $180m (£119m), whose technology will be integrated into Perions offerings immediately.
The deal aims to add new relationships with brands, agencies and publishers to Perions portfolio, as well as enhance its mobile footprint and programmatic capabilities, broaden its product suite and create a ad-tech platform that can work at scale.
“We are very excited about this acquisition,” said Josef Mandelbaum, CEO of Perion. “In Undertone we have found a premium brand company of scale and profitability, with a differentiated sustainable position in the market. Together we firmly establish ourselves as the leader in delivering high-quality advertising solutions for publishers and brands.”
Undertone has a strong focus on mobile and cross-screen, with 75 per cent of its revenues for the first nine months of 2015 coming from this area. The company expects to bring in $145m in 2015, and will provide Perion with a considerable boost to its finances.
“We are thrilled to be joining Perion,” said Corey Ferengul, CEO of Undertone. “I am excited that Undertones success with high-impact formats and great relationships with brands and agencies have brought us to this point in the companys evolution. Its not often you find two companies as complementary as Undertone and Perion.
“We share the vision as to the industrys need for a strong offering, focused on quality. I believe the combination of our companies will result in a broad offering of unique capability for brands and agencies to reach consumers and for publishers to monetise their content.”