|[August 01, 2014]
Perion Announces New 3 Year Agreement with Bing
TEL AVIV, Israel & SAN FRANCISCO --(Business Wire)--
Perion Network, Ltd. (NASDAQ: PERI) announced today that it has signed a
3 year agreement with Bing, extending its existing partnership, starting
January 1, 2015 through December 31, 2017. Upon mutual agreement, the
agreement may be renewed for 2018 as well. The agreement includes
desktop and tablet distribution with limited exclusivity in the United
States as well as mobile distribution.
"We are very excited to renew with Microsoft (News - Alert) for another 3 years. We are
committed to providing app developers with great solutions and working
with Microsoft and Bing.com
is an important part of that solution," commented Ms. Danielle Ullner,
Perion VP of Search Partnerships. "We are particularly excited by the
fact that mobile is part of our agreement and that together we are
focused on building out our end to end technology platform for
developers across all devices."
In parallel, and in conjunction with the fact that revenues from Google (News - Alert)
are no longer material to Perion, the Company decided to exercise its
right to opt-out of its ClientConnect agreement with Google as of August
31, 2014. The Company continues to work with Google through its original
Perion agreement which expires in June 2015.
In addition to Bing and Google, the Company also has search distribution
partnerships with Ask.com and Yahoo.
About Perion Network Ltd.
Perion powers innovation. Perion is a global performnce-based media
and Internet company, providing online publishers and app developers
advanced technology and a variety of intelligent, data-driven solutions
to monetize their application or content and expand their reach to
larger audiences, based on our own experience as an app developer. Our
leading software monetization platform, Perion
Codefuel, empowers digital businesses to optimize installs, analyze
data and maximize revenue. Our app promotion platform, Perion
Lightspeed, enables developers to make wise decisions on where to
spend advertising budgets to produce the highest yield and the most
visibility. The Perion team brings decades of experience, operating and
investing in digitally-enabled businesses, and we continue to innovate
and create value for the app ecosystem. More information about Perion
may be found at www.perion.com.
Follow Perion on Twitter (News - Alert) @perionnetwork.
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 Perion. 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 Perion with
respect to future events and are subject to risks and uncertainties.
Many factors could cause the actual results, performance or achievements
of Perion 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, changes in the markets in which the businesses operate and in
general economic and business conditions, loss of key customers,
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 Perion 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, 2013. Perion
does not assume any obligation to update these forward-looking
Source (News - Alert): Perion Network Ltd.
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