Israel-based app network Perion has just acquired a fledgling mobile marketing firm called Grow Mobile. Perion’s mobile advertising platform, Perion Lightspeed, will immediately absorb Grow.
The barely two-year old Grow Mobile may be young, but according to a press release, it’s growing quickly and already managing $20 million ad campaigns. Perion paid $17 million upfront, but is willing to pay as much as $42 million in total if Grow helps the company reach certain benchmarks.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1499635,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,mobile,","session":"D"}']Perion is definitely looking to grow. Last fall the company merged with browser tool Conduit’s Client Connect business. Now the company is looking to boost ad revenue through mobile advertising — a very popular arena these days.
Grow Mobile is based in San Francisco. Its employees will be staying on following the acquisition.
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