Israeli ad-tech company Perion Network (Nasdaq: PERI; TASE: PERI) has announced that it has acquired Israeli video monetization platform Vidazoo for up to $93.5 million - $35 million in cash immediately, and up to $58.5 million in milestone payments.
Perion provides a comprehensive digital advertising solution encompassing search, social media, and display. Acquiring Vidazoo will expand its area of activities to video. Vidazoo has developed a platform that allows content sites to develop revenue streams through tools for creating video content. Vidazoo, founded in 2014 by CEO Daniel Slivkin, Gal Dagan and Roman Svichar, is headquartered in Tel Aviv.
Perion CEO Doron Gerstel said, "The video advertising market is massive but highly concentrated among the largest publishers and broadcasters. Just as Shopify’s platform enables thousands of stores to compete with Amazon and Walmart, Vidazoo empowers hundreds of video-hungry publishers with a simple, highly scalable, plug-and-play video solution. By combining our high-impact video suite and Vidazoo’s unique online video player (OVP), we are offering an END to END video solution, eliminating all existing intermediate functions, and creating a direct, simpler and transparent relationship between advertisers and publishers."
Slivkin added, "We are thrilled to be joining the Perion family to drive continued growth and vision of Vidazoo video monetization technology across all screens. Through Perion’s HUB we will have direct access to high-impact video campaigns which is what premium publishers are looking for. Perion is an ideal growth partner and opportunity multiplier, across all dimensions of our current and future business."
Vidazoo was represented in the deal by Advs. Jacob Enoch, Lior Poliakov and Lihi Bachar from M. Firon & Co. law firm.
Published by Globes, Israel business news - en.globes.co.il - on October 4, 2021
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