Perion Network Ltd. (NASDAQ: PERI) said it has bought Conduit´s ClientConnect business in an all-stock transaction, creating a leading data-driven technology company with a proven lifecycle management platform that provides distribution, monetisation and analytics solutions to publishers.
Conduit spun off its ClientConnect business, which includes its monetisation and distribution platform for publishers and developers. The spun-off company has become a wholly owned subsidiary of Perion, which issued approximately 54.8m shares to ClientConnect´s selling shareholders, and approximately 2.8m options to ClientConnect´s option holders, based on Perion´s fully diluted share count at closing. Perion is now owned approximately 81% by the existing Conduit shareholders and option holders and 19% by existing Perion shareholders and option holders, on a fully diluted basis.
Perion is a global media and Internet company, providing online publishers and app developers advanced technology and a variety of intelligent data-driven solutions to monetise their application or content and expand their outreach to larger audiences. More information about Perion may be found at www.perion.com.