Friday, January 3, 2014

Perion Buys Conduit's ClientConnect Business

Israeli technology firm Perion Network Ltd. said this week that it has acquired the ClientConnect business of San Francisco-based Conduit, an an all-stock transaction. Perion said it issued approximately 54.8 million shares of its stock to ClientConnect's selling shareholders, plus 2.8 million in options. The deal is worth approximately $660M. Conduit is hiring 470 of Conduit's employees as part of the deal.