Perion Network Ltd., (NASDAQ: PERI), a global technology company that delivers its Synchronized Digital Branding solution across the three main pillars of digital advertising — ad search, social media and display / video — has signed an agreement to acquire the assets of Pub Ocean, a rapidly growing digital publisher-focused technology company with scalable content distribution and real-time revenue analytics technology, the company said.
Pub Ocean offers significant and immediate synergies to ContentIQ (CIQ), which Perion acquired in January, driving incremental revenue opportunities and enhanced profitability.
The acquisition, which is expected to close in the coming days, is for an aggregate cash consideration of up to USD 22 million, of which USD 4 million will be paid upon signing, USD 17 million as earn-out tied to financial targets over a two-year period and USD 1 million for two years of retention. The acquisition is expected to be immediately accretive and contribute more than USD 25 million in revenues and USD 5 million in Adjusted EBITDA to Perion in the first 12 months.
Perion is a global technology company that provides agencies, brands and publishers with innovative solutions that cover the three main pillars of digital advertising. More information about Perion can be found at www.perion.com.
Pub Ocean is a technology company that helps digital publishers become more profitable by providing greater visibility and control through proprietary technology: LiveYield for real-time revenue attribution, Mission to control and automate the purchase and sale of audience.