June 30, 2014 | The Israeli mobile app services company Perion announced that it acquired mobile advertising firm Grow Mobile for up to $42 million. Perion hopes that the acquisition will help the company expand its offerings for mobile application advertising. Perion announced that $17 million will be paid up-front in cash and equity, while the remaining $25 million will be paid in cash and equity over the next two years. Grow Mobile’s advertising platform allows mobile app developers to track and buy campaigns, similar to Facebook, in order to attract more users. Perion (formerly IncrediMail) was founded in 2000 by cousins Yaron and Ofer Adler and has quickly become a global software giant with offices in Tel Aviv, Seattle, and San Francisco.