Perion Network
Perion Network is an Israeli advertising technology company providing omnichannel media, retail-media, publisher monetization, and campaign-optimization solutions.
Last updated August 31, 2026
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Overview
Perion Network Ltd. is an Israeli advertising technology company serving advertisers, agencies, retailers, publishers, and media owners. Its business has evolved substantially since the company was founded in 1999. It initially developed consumer-oriented downloadable software and digital-content products, later expanding through acquisitions and partnerships into search monetization, mobile-app advertising, display advertising, video, and broader digital media services. The company adopted the Perion name in 2011 as part of a repositioning away from its earlier identity and product portfolio. Perion became a public company on Nasdaq in January 2006 and was subsequently listed on the Tel Aviv Stock Exchange. A major turning point came in 2014, when it acquired Conduit's ClientConnect business in an all-stock transaction. The acquisition significantly increased the company's scale and strengthened its search-related operations, including activities associated with Microsoft's Bing search ecosystem. Perion later added mobile-app marketing, programmatic advertising, content monetization, video, analytics, and digital out-of-home capabilities through acquisitions such as Grow Mobile, MakeMeReach, Undertone, Content IQ, Vidazoo, and Hivestack. The company currently presents Perion One as its unified omnichannel advertising platform. The platform is intended to connect campaign planning, media activation, optimization, and measurement across connected television, digital out-of-home, display, video, audio, retail media, and commerce media. Perion also provides supply-side and monetization tools for publishers, helping them manage advertising inventory across web, video, connected television, and digital-out-of-home environments. Its Outmax product applies artificial intelligence and performance algorithms to adjust campaigns according to business objectives and observed results. Perion's retail and commerce-media activities use retailer data and media infrastructure to help brands reach consumers and measure outcomes. The company has described partnerships with Albertsons Media Collective and Walmart Connect as ways to extend access to purchase-based audiences, omnichannel inventory, and closed-loop measurement. Its technology and service model combines proprietary platforms, programmatic media capabilities, data, creative and campaign services, and relationships with large advertising and retail ecosystems. The business has also faced concentration risk from its relationship with Microsoft Advertising. In 2024, changes to Microsoft's Bing advertising network materially reduced the expected contribution of search-related revenue, prompting Perion to announce workforce reductions and cost-cutting measures. The company subsequently emphasized diversification into omnichannel advertising, retail media, connected television, digital out-of-home, and artificial-intelligence-supported optimization. Perion is headquartered in Tel Aviv and maintains offices in North America, the United Kingdom, and Ukraine.
History
Perion Network was founded in 1999 by cousins Yaron Adler and Ofer Adler. The company obtained early funding from private and institutional investors and initially developed consumer software and downloadable digital-content products. It listed on Nasdaq in January 2006 and joined the Tel Aviv Stock Exchange in 2007. In November 2011, it adopted the Perion name, marking a broader corporate identity as it moved beyond its earlier consumer-software orientation. The company's acquisition strategy became central to its growth. It acquired Smilebox in 2011 and SweetPacks in 2012, adding digital-photo, slideshow, downloadable-content, and related consumer products. In January 2014, Perion acquired Conduit's ClientConnect business in an all-stock transaction. The transaction transformed the company's scale and deepened its search and monetization activities. During 2014 it also acquired Grow Mobile and integrated the business into Perion Lightspeed, a platform serving mobile-application developers. In 2015, Perion acquired MakeMeReach, a social-media advertising platform for app developers, and Undertone, a digital advertising company. Josef Mandelbaum became CEO in 2010 and left the position in 2016. During his tenure, Perion expanded from a relatively small single-product business into a much larger company. Doron Gerstel became CEO in April 2017. Under Gerstel, the company focused on improving operational efficiency, reducing debt, and broadening its advertising technology portfolio. Perion also developed partnerships involving security, browsing, search, mobile advertising, and programmatic media. From 2018 through 2021, Perion expanded its platform and partnerships. MakeMeReach received Google certification in 2018. Perion acquired Kyiv-based analytics company Septa Communications in 2019, then acquired Content IQ in January 2020 to improve digital advertising optimization and cookie-less tracking. Assets from Pub Ocean were acquired later in 2020 and integrated into Content IQ. CodeFuel entered a four-year partnership with Microsoft Advertising in November 2020. In 2021, Perion acquired Tel Aviv-based video monetization company Vidazoo and MakeMeReach partnered with Pinterest to support advertising purchases and data integration. The company continued moving toward a broader omnichannel model. In 2023, it acquired Hivestack, a Montreal-based digital out-of-home advertising platform, for $100 million in cash. Perion subsequently organized its capabilities around Perion One, a unified platform for planning, activating, optimizing, and measuring campaigns across connected television, digital out-of-home, display, video, audio, retail media, and commerce media. Tal Jacobson succeeded Gerstel as CEO in August 2023. In 2024, Perion faced a major change in its search business after Microsoft took actions that removed several advertisers from portions of its Bing network. The company announced workforce reductions and a cost-cutting program, including 35 job eliminations primarily in Israel. The episode highlighted the risk of dependence on a major distribution partner and reinforced Perion's stated emphasis on diversification into retail media, connected television, digital out-of-home advertising, and AI-powered optimization. In 2025, Perion acquired Greenbids for $65 million to strengthen AI-based campaign optimization. The company remains headquartered in Tel Aviv and operates internationally.
- 2025
Greenbids acquisition
[1]Perion acquired Greenbids to extend AI-based campaign optimization.
- 2023
Hivestack acquisition
[1]Perion acquired Hivestack to expand its programmatic digital out-of-home advertising capabilities.
- 2021
Vidazoo acquisition
[1]Perion acquired Vidazoo, a video monetization platform.
- 2020
Content IQ and Pub Ocean expansion
[1]Perion acquired Content IQ and later added Pub Ocean assets to strengthen publisher-focused advertising optimization.
- 2015
Undertone acquisition
[1]Perion acquired digital advertising company Undertone.
- 2014
ClientConnect acquisition
[1]Perion acquired Conduit's ClientConnect business in an all-stock transaction, substantially expanding its search-related operations.
- 2011
Rebrand to Perion
[1]The company adopted the Perion name as it broadened its corporate and product identity.
- 2006
Nasdaq listing
[1]Perion became publicly traded on Nasdaq.
- 1999
Company founded
[1]Yaron Adler and Ofer Adler founded the company in Israel.
Products and positioning
A technology-led, omnichannel advertising platform combining media activation, retail and commerce data, publisher monetization, and AI-assisted campaign optimization.
Omnichannel advertising platform
Perion One
Perion One is Perion's unified advertising platform for planning, activating, optimizing, and measuring campaigns. It brings together media execution and data across connected television, digital out-of-home, display, video, audio, retail media, and commerce media. The platform is positioned as a way for advertisers and agencies to coordinate multiple channels while using common optimization and measurement workflows.
AI advertising optimization
Outmax
Outmax is an outcome-oriented artificial-intelligence performance algorithm designed to optimize campaigns in real time. It uses campaign objectives and performance signals to adjust media decisions across digital channels, with the goal of improving measurable business outcomes rather than optimizing only for delivery volume.
Digital out-of-home advertising
Hivestack
Hivestack is a programmatic digital out-of-home advertising platform acquired by Perion in 2023. It supports the buying, selling, and management of digital out-of-home inventory and forms part of Perion's effort to connect outdoor media with broader omnichannel campaign planning and measurement.
Mobile and social advertising · 2015
MakeMeReach
MakeMeReach provides advertising technology for mobile-app developers and supports campaign buying and data connections across social and digital platforms. Perion acquired the company in 2015 and subsequently used it as part of its mobile and performance-advertising portfolio.
Digital advertising · 2015
Undertone
Undertone is a digital advertising business acquired by Perion in 2015. Its capabilities contributed display, video, branded-content, and premium-media expertise to Perion's advertising technology and services offering.
Video monetization · 2021
Vidazoo
Vidazoo is a video monetization platform acquired by Perion in 2021. Its technology supports publishers and media owners seeking to distribute video and monetize video inventory through advertising demand.
Search monetization technology
CodeFuel
CodeFuel is Perion's search-technology division. It provides search monetization and related technology for digital products and partners, including activities connected with Microsoft Advertising. The division has historically been an important part of Perion's revenue mix.
Marketing campaigns
- 2022Mercedes-Benz USA cookieless advertising campaign
United States
Perion reported on a Mercedes-Benz USA digital campaign that used a cookieless approach to audience targeting and measurement, illustrating its focus on privacy-conscious advertising methods.
Outcome. Perion described the campaign as a successful implementation of its cookieless strategy.
Brand decisions
2025
Acquisition of GreenbidsM&ABackground
Perion sought to improve automated performance optimization across an increasingly fragmented digital advertising environment.
Action taken
Perion acquired Greenbids, an AI advertising platform, for $65 million.
Aftermath
The transaction expanded the AI capabilities associated with Perion's campaign optimization strategy.
Acquisition consideration. $65 million (2025)
2024
Cost reduction and search-business restructuringStrategyBackground
Changes to Microsoft's Bing advertising network reduced Perion's expected search-related revenue and exposed the company's dependence on a major distribution partner.
Action taken
Perion announced the elimination of 35 jobs, primarily in its Israeli search division, while emphasizing diversification into other advertising channels.
Aftermath
The company increased its focus on connected television, digital out-of-home, retail media, commerce media, and AI-supported campaign optimization.
2023
Acquisition of HivestackM&ABackground
Perion was expanding beyond search and web advertising into programmatic out-of-home media.
Action taken
Perion acquired Hivestack for $100 million in cash.
Aftermath
The acquisition strengthened Perion's digital out-of-home capabilities and supported its broader omnichannel platform strategy.
Acquisition consideration. $100 million cash transaction (2023)
2014
Acquisition of Conduit ClientConnectM&ABackground
Perion sought greater scale and a stronger position in search monetization and digital distribution.
Action taken
It acquired Conduit's ClientConnect business in an all-stock transaction.
Aftermath
The transaction materially expanded Perion's operations and increased the importance of search-related activities.
2011
Adoption of the Perion corporate identityStrategyBackground
The company was broadening its activities beyond its earlier consumer software and downloadable-content products.
Action taken
It changed its corporate name to Perion, using the new identity for its expanded business.
Aftermath
The rebrand accompanied a longer-term shift toward advertising technology and digital media services.
Recent events
- Unconfirmed
Affle agrees to acquire Perion Network[3]
Reported:
Affle signed a definitive agreement to acquire Perion Network for $420 million, at $11.70 per share. The companies expect the deal to be completed in early 2027, after which Perion will be delisted from Nasdaq and the TASE.
Perion completes acquisition of Content IQ[4]
Reported:
Perion Network Ltd. announced that it had completed its acquisition of Content IQ. Perion acquired all of CIQ's shares for total consideration of $73.05 million, subject to additional retention incentives and earn-outs described in the agreement.
Sources4 sources
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