Perion Networks Inc. (Nasdaq:PERI: TASE:PERI) announced today that it has acquired French social media advertising developer MakeMeReach. No financial details were given but market sources believe that Perion will pay $10-15 million for the acquisition. The acquisition comes eight months after Perion bought US mobile ad company Grow Mobile Inc. for $17 million with a potential further $25 million milestone payments.
Founded in 2009 in Paris by CEO Pierre-François Chiron, MakeMeReach focuses on managing social advertising campaigns for global leading brands such as Match.com, L'Occitane en Provence, Armani and GroupM.
MakeMeReach's AdsOptim technology enables mobile app developers to efficiently and effectively scale their advertising campaigns on social media, with a specific focus on optimizing mobile ad campaigns. MakeMeReach is a Facebook Preferred Marketing Developer (PMD) and Twitter Marketing Platform Partner (MPP).
MakeMeReach expands Perion's GrowMobile offering to include the fast-growing social media space, solidifying its position as the industry’s most complete and comprehensive automated mobile marketing platform. It will become the operations center for Perion Europe.
Perion mobile marketing division general manager Shai Gottesdiener said, “Acquiring MakeMeReach extends our position as one of the leading providers of mobile marketing technology. MakeMeReach's success in making it easy to advertise on social media is well aligned with Perion's goal of providing developers with the most effective mobile advertising tools."
Perion, managed by CEO Joseph Mandelbaum, is traded on Nasdaq and the TASE and has a market cap of $230 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 11, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015