Business
Perion Expands Publisher Technology Offering by Acquiring Vidazoo – Innovative Video Monetization Platform
Transaction is Immediately Accretive and is Expected to Accelerate Perion’s Rapidly Growing Video Advertising Business; Management Raises 2021 and 2022
About this update from Perion Network Ltd
[{"type":"text","content":"\nTransaction is Immediately Accretive and is Expected to Accelerate Perion’s Rapidly Growing Video Advertising Business; Management Raises 2021 and 2022 Revenue and EBITDA Guidance\n\n TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--\nPerion Network Ltd. (NASDAQ: PERI), a global advertising technology company that delivers a holistic solution across the main pillars of digital advertising – search, social media, display, and video / CTV – announced today the acquisition of Vidazoo, a leading video technology company that enables both advertisers and publishers to deliver high impact content and advertising to consumers. Perion acquired Vidazoo for a total amount of $93.5 million, consisting of $35.0 million in cash upon closing with an additional maximum of $58.5 million structured as a performance earn-out, if certain EBITDA-based targets are achieved.\n\n\n\n\nVidazoo Financial Highlights and Outlook\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n2020 Actual\n\n\n\n2021 Outlook\n\n\n\nYOY Growth Rate\n\n\n\n\n\nRevenue\n\n\n\n$31.9M\n\n\n\n$45M\n\n\n\n41%\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$4.3M\n\n\n\n$8M\n\n\n\n86%\n\n\n\n\nVidazoo, founded in 2014 by Daniel Slivkin, Gal Dagan and Roman Svichar, and headquartered in Tel Aviv, is a highly differentiated video monetization platform which allows digital publishers to generate new, incremental revenue through its unique set of video products.\n\n“The video advertising market is massive but highly concentrated among the largest publishers and broadcasters,” said Doron Gerstel, Perion’s CEO. “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.”\n\nVidazoo’s video monetization solution is differentiated by three unique capabilities:\n\n\nA proprietary online video player (OVP) and integrated ad server, which allows publishers and brands to upload, manage and stream video content. Vidazoo’s OVP is certified with the major advertising platforms and compatible with all devic...