Perion Network Ltd. (NASDAQ: PERI) announced today it has entered into a
three year non-exclusive search and distribution relationship with
Ask.com, a long-time recognized Q&A brand and leader in the search
industry and an operating business of IAC (NASDAQ: IACI).
By partnering with Ask.com, Perion will be able to offer its users Ask’s
unique, customized search experience and applications. Ask provides
general search services as well as direct answers to natural language
questions to more than 100 million global users. It’s also a
demonstrated leader in delivering customized search solutions to leading
software companies worldwide.
Commenting on the agreement, Josef Mandelbaum, Perion's CEO, said, "We
are very excited to add Ask.com as a search partner. We believe
Ask.com’s unique approach to helping consumers find what they are
looking for is a great match for our audience. While we can’t disclose
the terms of the agreement due to confidentiality, I can say that the
agreement should be very beneficial economically to Perion. It is
non-exclusive, and is for three years, providing long term stability for
our business. With three different search providers, Perion is now in
the best position in its history for optimizing its search offerings,
benefitting both the Company and our growing base of users."
"We are very happy to begin this new strategic relationship with
Perion," said Andrew Moers, President of the Ask Partner Network. “This
new alliance is a great opportunity for us to broaden Ask’s reach and
provide our customized solutions to Perion’s millions of users. We look
forward to working with Perion to deliver great products to their
customers."
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 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 50 million monthly 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. 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, risks that the Company’s acquisition activities
may disrupt current plans and operations and pose difficulties in
employee retention, risks entailed in integrating acquired business,
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/A for the year ended December 31, 2012. The
Company does not assume any obligation to update these forward-looking
statements.
Source: Perion Network Ltd.
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