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Perion Acquires Grow Mobile for $42 Million to Develop Its Marketing Business
/ June 30, 2014 4:43 pm

perion logo 150TechCrunch reports that Perion, the publicly-listed mobile application services company that was the topic of a reverse merger by Conduit last year, is today stating an acquisition to further develop its marketing business. It is purchasing the stunning but moneymaking advertisement aggregation platform Grow Mobile. Tel Aviv-founded Perion is giving $17 million up front ($10m in cash, $7m in equity), and another $25 million in equity and cash over the next two years based on performance targets. The deal is anticipated to close in early Q3. Grow Mobile will become a part of the company’s new Lightspeed mobile marketing division. “We are in a closed beta of a dashboard that will give the app developer connectivity to different supply sources under one dashboard,” said Tomer Pascal, General Manager of Perion. Read More

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