Perion Network Ltd. (NASDAQ: PERI), clarified today that there was a
typo in its annual report on Form 20-F for the year ended December 31,
2011, regarding the correct expiration date of its current Google
Agreement. The correct expiration date of its current Google Agreement
is January 31, 2013 as appears correctly on pages 22, 37, 68, and f-9,
and not January 1, 2013 as appears in the one place, on page 5 of that
report.
Perion is in final discussions regarding the renewal of its existing
agreement and will update its investors before January 31, 2013.
About Perion Network Ltd.
Perion Network, Ltd. (NASDAQ: PERI) is a global consumer internet
company that develops applications to make the online experience of its
users simple, safe and enjoyable. Perion’s three main consumer brands
are: IncrediMail, Smilebox and SweetIM. IncrediMail
is a unified messaging application enabling consumers to manage multiple
email accounts and Facebook messages in one place with an easy-to-use
interface and extensive personalization features, and is available in
over 100 countries in 8 languages; Smilebox
is a leading photo sharing and social expression product and service
that quickly turn life's moments into digital keepsakes for sharing and
connecting with friends and family, in a fun and personal way. SweetIM
is an instant messaging and Facebook application that enables
consumers to personalize their everyday communications with free, fun
and easy to use content. Perion products have had over 300 million
downloads to date with more than 30 million monthly unique visitors
across all of its brands. Most of Perion’s applications are monetized
through a freemium model. Free versions of our applications are
monetized primarily through our toolbar which generates search revenue
and display advertising revenue, generated through impressions. A more
advanced feature rich version of many of our products is available with
a premium upgrade. Perion also offers and develops a range of products
for mobile phones and tablets to answer its users increasing mobile
demands. For more information on Perion please visit www.perion.com.
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 the Company. 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 the Company
with respect to future events and are subject to risks and
uncertainties. In addition, the financial information set forth in this
press release is not an indication of the future financial results of
the Company following the consummation of the acquisition. Many factors
could cause the actual results, performance or achievements of the
Company 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, potential
litigation associated with the transaction, risks that the Company's
acquisition activities may disrupt current plans and operations and pose
difficulties in employee retention, risks entailed in integrating
acquired businesses, changes in the markets in which the Company
operates and in general economic and business conditions, loss of key
customers and 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 the Company 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, 2011. The
Company does not assume any obligation to update these forward-looking
statements.