Conduit in Talks to Acquire Perion for Some $200 Million

Israel's most highly valued Internet company is looking to go public and strengthen its presence in the global market, analysts say.

Conduit, a powerhouse Israeli software developer, is in advanced negotiations to buy Perion Networks, another software company founded by Israelis, for roughly $200 million, TheMarker has learned.

Conduit, which develops toolbars and mobile apps, completed its latest fundraising round in April 2012 at a business value of $1.4 million, making it the highest-valued Internet company in the country. Analysts speculate that Conduit is interested in a reverse merger with Perion to avoid the lengthy process of becoming a publicly-traded company. Conduit officials deny that is their goal.

Perion, which develops communications and consumer-sharing software, is traded on NASDAQ and the TASE at a market value of about $140 million. Conduit’s management has opposed going public, but doing so would enable the venture-capital funds that have invested in the company to realize their holdings. Conduit’s major shareholders are Benchmark Capital and JPMorgan Chase, which in 2012 acquired a 7% stake in the company for $100 million.

It is believed the acquisition of Perion would strengthen Conduit’s presence in the global Internet market. In 2011, Conduit bought Wibiya, an Israeli toolbar maker, for $45 million, and there are signs it may not be done. The company is part of widespread merger and acquisition talks among Israeli companies.

Conduit is looking to compete globally.Credit: Reuters

Click the alert icon to follow topics:



Automatic approval of subscriber comments.

$1 for the first month

Already signed up? LOG IN

A family grieves outside the SSGT Willie de Leon Civic Center following the mass shooting at Robb Elementary School in Uvalde, Texas on Wednesday.

Israeli PM Offers Condolences After Texas Gunman Kills 21 at Elementary School

U.S. President Joe Biden, this week.

Biden Decides to Keep Iran's Revolutionary Guards on Terror List, Says Report

ADL CEO Jonathan Greenblatt.

Progressive Jews Urge ADL Chief to Apologize for Calling Out Democratic Activist

Democratic Sen. Bernie Sanders with Jessica Cisneros in San Antonio last week.

It’s AIPAC vs. Bernie Sanders in Too-close-to-call Texas Democratic Runoff

U.S. President Joe Biden. Making a historic pivot to Asia.

Biden Does What His Three Predecessors Talked About Yet Failed to Do

Meir Kahane addressing his followers during a demonstration in Jerusalem, in 1984.

Why the U.S. Removed Kahane Chai From Terrorist Blacklist