PERI Perion Network Ltd - Ordinary Shares

Perion Network Ltd. is a publicly traded advertising technology company that provides digital advertising technology solutions to advertisers, agencies, retailers, and publishers. Its core offerings are delivered through Perion One, a unified omnichannel advertising platform designed to support campaign planning, activation, optimisation, and measurement across channels and verticals including connected television (CTV), digital out-of-home (DOOH), display, video advertising, as well as retail media and commerce solutions. The company is headquartered in Tel Aviv, Israel, with offices in Tel Aviv, New York, Los Angeles, London, Chicago, Boston, Atlanta, Toronto, Montréal and Kyiv. Perion is listed on the Nasdaq Stock Market under the ticker symbol PERI.

Services

Perion provides digital advertising technology and services for advertisers, agencies, retailers, and publishers through its unified advertising platform and related solutions.

Perion One

Perion One is a unified omnichannel advertising platform that consolidates Perion's technologies into a single solution for planning, activating, optimizing, and measuring digital advertising campaigns across multiple channels, including connected television, display, video, audio, and digital out-of-home advertising. The platform integrates artificial intelligence to connect data, creative, and media execution across channels.

Solutions for advertisers, brands and agencies

Perion provides digital advertising solutions that enable advertisers to execute campaigns and analyze performance across a range of channels:

Connected Television (CTV): Perion One includes capabilities for managing and delivering connected television advertising.

Digital out-of-home (DOOH): Perion offers DOOH advertising capabilities as part of its omnichannel platform.

Display and video advertising: Perion One supports programmatic and direct campaigns across web and mobile inventory.

Retail and commerce media solutions:Perion provides retail and commerce media advertising solutions intended to help brands and agencies reach consumers using retailer first-party data and measure performance across digital channels.

Retail media and Commerce integrations: Perion announced a strategic partnership with Albertsons Media Collective that enables advertisers to activate against Albertsons’ purchase-based first-party audiences across display and DOOH formats, expanding its retail media capabilities.

Retail partner networks: Perion has joined the Walmart Connect Partner Network to give brands access to Walmart Connect's omnichannel media solutions and closed-loop measurement as part of its retail and commerce media offering.

Solutions for publishers

Perion provides technology and monetisation solutions for publishers, including supply-side capabilities that support web, video, connected television, and digital out-of-home inventory. These tools help maximise publisher revenue and manage programmatic demand.

AI-powered optimization

Outmax is Perion’s outcome-driven AI (artificial intelligence) performance algorithm, designed to optimize advertising campaigns in real time across digital channels by adapting to business goals and performance signals.

Mergers and acquisitions

In 2025, Perion acquired the AI platform Greenbids for $65 million to expand its AI-based campaign optimization capabilities across major digital channels.

In 2023, Perion acquired Montreal-based digital out-of-home (DOOH) advertising platform Hivestack for $100 million in cash, expanding Perion's presence in programmatic out-of-home advertising.

In 2021, Perion acquired a Tel Aviv-based video monetization platform, Vidazoo, for $93.5 million.

In July 2020, Perion acquired assets from a digital publisher-centric ad-tech firm named Pub Ocean and subsequently integrated them into Content IQ.

In January 2020, Perion acquired Content IQ, a New York-based startup that focused on optimizing digital advertising through cookie-less tracking and analytics.

In 2019, Perion acquired Septa Communications, a Kyiv-based AI company that provided ad performance analytics service, for $3.5 million.

In December 2015, Perion acquired the digital advertising firm, Undertone, for $180 million.

In February 2015, Perion acquired MakeMeReach, a platform that helped app developers with social media advertising, for $15 million.

In June 2014, Perion acquired San Francisco-based Grow Mobile as it repositioned itself to emphasize business-to-business services. After the acquisition, Grow Mobile was integrated into Perion Lightspeed, a platform that serves the advertising requirements of mobile app developers.

In January 2014, Perion took over Conduit's ClientConnect business in an all-stock transaction valued at $660 million.

In November 2012, Perion acquired Israel-based SweetPacks (or SweetIM), for approximately $41 million. SweetPacks specialized in producing a range of downloadable content for daily use.

In August 2011, Perion acquired the Redmond-based Smilebox for $25 million. Smilebox was an application designed for creating slideshows, e-cards, invitations, and other digital photo albums.

History

Perion was founded in 1999 by cousins Yaron and Ofer Adler. Soon after its founding, they raised $3.3 million in funding from private and institutional investors. The company went public on Nasdaq in January 2006 and was listed on the Tel Aviv Stock Exchange in 2007.

Perion was under the management of its original founders until August 2010, when Josef Mandelbaum was appointed CEO.

In November 2011, the company rebranded to Perion, deriving its name from the Hebrew word for productivity.

2014–2017

In July 2014, Perion collaborated with CYREN, a provider of cloud-based security services, to enhance Perion's security and browsing applications.

In August 2014, Perion extended its agreement with Microsoft's Bing search service, powering search in Perion products for desktop and mobile platforms.

In September 2016, Josef Mandelbaum stepped down as CEO of Perion. During his tenure, Perion grew from a single-product company with an annual revenue of $29 million to over $300 million.

In April 2017, Doron Gerstel assumed the role of CEO. Under his leadership, Perion took initiatives to minimize the company's debt and enhance its "operational efficiency". This period also saw the company broaden its reach into the digital television advertising sector.

2018–2020

In October 2018, Perion's platform, MakeMeReach, received Google certification.

In November 2020, CodeFuel, Perion's Search Technology division, entered into a four-year partnership with Microsoft Advertising.

2021–2022

In September 2021, MakeMeReach, a subsidiary of Perion, formed a partnership with Pinterest, allowing ad purchasing and data integration from major social platforms and Google.

In February 2022, Perion received the Microsoft Supply Partner of the Year Advertising Award.

In August 2022, Perion received the Stevie Award in the artificial intelligence category.

In September 2022, Perion disclosed the results of a digital advertising campaign for Mercedes-Benz USA, noting a successful implementation of the cookieless strategy.

2023–2024

In February 2023, it was announced that Doron Gerstel would be stepping down as the CEO of the company and would be succeeded by Tal Jacobson, effective from 1 August 2023.

In June 2024, Perion announced significant layoffs as part of a cost-cutting initiative. The decision came after Microsoft's further actions to completely remove several advertisers from its Bing network, which severely harmed Perion's revenues. As a result, Perion decided to eliminate 35 jobs, primarily within its search division in Israel. This reduction represented 15% of the company's Israeli workforce, which numbered 230 employees out of a total of 650 globally.

The impact of Microsoft's decisions was substantial, with Perion's revenue from its collaboration with Microsoft projected to fall to less than 5% of its total revenue in the latter half of 2024. Previously, revenue from Bing had formed a substantial part of Perion's income. For the second quarter of 2024, Perion's revenues were anticipated to be between $106 million and $108 million, with annual revenues expected to decrease to approximately half a billion dollars.