Perion Acquires Undertone For $180M

December 1 2015 | Perion announced today that it has acquired Undertone, a leader in high-impact, cross-screen advertising solutions, for $180 million in total enterprise value. Traded on the Nasdaq and Tel Aviv Stock Exchange, Perion provides online publishers and app developers content monetization tools. Founded in 1999 by cousins Yaron and Ofer Adler, Perion was formerly IncrediMail, an email company, which the Adlers’ co-led until 2010, when current CEO Josef Mandelbaum was appointed. Since then, the company has completed a number of acquisitions, including: photo app Smilebox for $32 million; SweetPacks (aka SweetIM) for approximately $41 million; Conduit’s ClientConnect business in an all-stock transaction valued at $660 million; San Francisco based Grow Mobile; and Paris-based MakeMeReach, a social media advertising platform.