Perion Announces Transformational 'Perion One' Strategy, Unifying All of Its Technologies and Brands
Strengthening Leadership Team and Optimizing the Company Structure to Better Capture Growth Opportunities
Perion Network Ltd. (NASDAQ & TASE: PERI), a leader in advanced technology solving for the complexities of modern advertising, announced today the launch of its "Perion One" strategy. This strategy will unify the Company's brands and technologies into one advanced platform named "Perion One", further supporting its position as the partner of choice for brands, agencies, and retailers navigating the complexities of modern advertising. The Perion One transformation will harness AI to help solve modern marketing challenges for which a unified solution has never been possible until now, while optimizing the Company's cost structure and setting it up for successful scale in the years to come.
The transformation at Perion extends beyond a new brand and a unified platform, enhancing leadership capabilities with the addition of these exceptional new team members:
- Stephen Yap, a Google veteran with extensive experience, is the new Chief Revenue Officer and will lead the company's global sales force for advertisers.
- Kenny Lau, Undertone's CPO, has been promoted to Perion's new Chief Product Officer. With vast experience from companies such as PubMatic, Criteo, AdTheorent, and more, Lau will lead all of Perion's product innovations.
- Mina Naguib, Hivestack's CTO, has been promoted to Perion's new Chief Technology Officer and will oversee all technologies. Mina's experience is rooted in the AdTech industry, being the Chairman of the Prebid.org DOOH Committee and was part of the leading Samsung Ads Architecture team.
- Adi Shpak has been promoted to lead Perion's AI Labs and will lead future development on advanced deep learning and AI algorithms under Mina's tech organization.
Tal Jacobson, Perion's CEO said, "Perion One represents a significant transformation for our company, which will unify our diversified brands and advanced technologies into one leading platform. Chief Marketing Officers (CMOs) and their marketing teams need seamless, nimble, and comprehensive solutions that can connect the dots across the media ecosystem, empowering them to deploy advertising dollars with confidence and report on actual impact – Perion One will be that solution."
Mr. Jacobson continued, "Perion's growth is rooted in innovation – from the strength of our technological capabilities to our acquisitions of market-leading technologies. With Perion One, our customers will have access to the full breadth of our capabilities in one platform, and our sales leaders can reach markets with pre-existing relationships. Our new journey is just beginning, and we believe we will become a premier solutions provider in our industry, which will help us drive long-term value for all our stakeholders," concluded Mr. Jacobson.
The Perion One Platform harnesses the exceptional technologies of Hivestack, expanding upon the capabilities of one of the most advanced pieces of technology AdTech has today. Perion will continue to unify all its existing and new solutions under this platform and advance the Perion One offering, giving CMOs a clearer view across the entire ecosystem. Perion is one of the only technology providers in the industry that provides solutions along every part of the marketing funnel. Thus, the company believes it is perfectly positioned to lead the industry forward, benefitting from significant long-term growth opportunities. The unified Perion One offering can achieve greater customer retention, longer duration contracts, more large-scale customers, increased recurring revenue per customer, and a more efficient business structure.
Today, Tal Jacobson, Perion's CEO, shared an open letter with investors, clients, and employees. It is available on the Perion Website at: https://perion.com/news/ceo-open-letter/
About Perion Network Ltd.
Perion is helping agencies, brands and retailers get better results with their marketing investments by providing advanced technology across all major digital channels. Through the Perion One platform, we are making digital advertising more effective by building solutions that continuously adapt to connect the dots between data, creative and channels.
For more information, visit Perion's website at www.perion.com
Forward Looking Statements
This press release and the enclosed open CEO letter contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to Perion One platform, long-term growth opportunities, company structure optimization, the business, financial condition and results of operations of Perion. The words "will," "believe," "expect," "intend," "plan," "should," "estimate" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Perion with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results, performance or achievements of Perion to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, but not limited to, the current war between Israel and Hamas and any worsening of the situation in Israel (such as further mobilizations), the failure to realize the anticipated benefits of companies and businesses we acquired and may acquire in the future, risks entailed in integrating the companies and businesses we acquire, including employee retention and customer acceptance; the risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those businesses, potential litigation associated with such transactions, and general risks associated with the business of Perion including intense and frequent changes in the markets in which the businesses operate and in general economic and business conditions, loss of key customers, data breaches, cyber-attacks and other similar incidents, unpredictable sales cycles, competitive pressures, market acceptance of new products, changes in applicable laws and regulations as well as industry self-regulation, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. Various other risks and uncertainties may affect Perion and its results of operations, as described in reports filed by Perion with the Securities and Exchange Commission from time to time, including its annual report on Form 20-F for the year ended December 31, 2023 filed with the SEC on April 8, 2024. Perion does not assume any obligation to update these forward-looking statements.
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Perion Network Ltd.
Dudi Musler, VP of Investor Relations
+972 (54) 7876785
[email protected]