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Perion Perion Expands Publisher Technology Offering by Acquiring Vidazoo - Innovative Video Monetization Platform October 4 , 2021 Transaction is Immediately Accretive and is Expected to Accelerate Perion's Rapidly Growing Video Advertising Business ; Management Raises 2021 and 2022 Revenue and EBITDA Guidance TEL AVIV , Israel & NEW YORK -- ( BUSINESS WIRE ) -- Oct . 4 , 2021-- Perion 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 . Vidazoo Financial Highlights and Outlook Revenue Adjusted EBITDA 2020 Actual $ 31.9M $ 4.3M 2021 Outlook $ 45M $ 8M YOY Growth Rate 41 % 86 % Vidazoo , 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 . " 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 . " Vidazoo's video monetization solution is differentiated by three unique capabilities : • A 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 devices and video formats . The Vidazoo OVP is integrated with a proprietary ad server , ensuring a consistent user experience by reducing latency and errors , adding to its inherent power and efficiency . • A sophisticated yield management platform ( YMP ) , which automatically optimizes and prioritizes publishers ' direct campaigns and open marketplace demand based on specific KPIs , and which is expected to be embedded into Perion's intelligent hub ( iHub ) . Revenue • A rich video content and ad marketplace , with connections to multiple content providers and more than 20 programmatic platforms . Perion will expand this marketplace with its existing buy side relationships . Daniel Slivkin , Chief Executive Officer of Vidazoo , commented , " We are thrilled to be joining the Perion family to drive continued growth and vision of Vidazoo video monetization technology across all screens . Through Perion's HUB we will have direct access to high - impact video campaigns which is what premium publishers are looking for . Perion is an ideal growth partner and opportunity multiplier , across all dimensions of our current and future business . " Raymond James acted as financial advisors to Perion . Transaction Terms Under the terms of the acquisition agreement , Perion has acquired all the shares of Vidazoo for $ 35.0 million in cash upon closing , with an additional maximum of $ 58.5 million structured as a performance earn - out through 2023. The earn - outs are tied to EBITDA - based metrics that would be paid in full if Vidazoo generates $ 32.4 million of Adjusted EBITDA in aggregate , through the end of 2023. If Vidazoo achieves all of its performance goals through 2023 , the total maximum consideration would be $ 93.5 million . Outlook Perion is raising guidance to account for the expected contribution from the Vidazoo acquisition , which expected to be earnings accretive immediately . ( $ M ) 2022 Guidance 2021 Guidance Prior 2021 Guidance Revised YoY Growth % * 33 % 2022 Guidance Prior Revised $ 415- $ 430 $ 430- $ 445 $ 490- $ 520 $ 545- $ 575 YoY Growth % * 29 %