Conduit, Worth $1.4BN, Acquires Email Startup Perion (Worth $153M)

Conduit, the Israeli-based browser-toolbar and mobile startup estimated to be worth some $1.4 billion, has confirmed it is purchasing Perion Network. Conduit’s Client Connect business and Perion will combine in an all-stock transaction. Perion’s current market cap is $153 million. The combination creates a search distribution company generating $367 million in revenue and $109 million in EBITDA for the 12 months ended June 30, 2013. The newly combined Perion operation represents more than 260,000 publisher and content partners.

Perion’s three main consumer brands are: Incredimail, Smilebox and SweetIM.

The price for the transaction was not disclosed

More to follow…