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Perion Network buys data analytics company Content IQ

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Perion Network buys data analytics company Content IQ

Perion Network Ltd. acquired all the shares of Content IQ, a provider of data algorithm and analytics tools for digital publishing, for about $73.1 million.

The deal price includes a cash payment of $15 million upon the closing of the deal and an additional payment of up to $11 million as a retention incentive. There will also be earnouts of up to $47.1 million tied to meeting certain revenue and aggregate EBITDA targets over the next two years.

The acquisition will allow Perion Network to offer new technologies for measuring user engagement in content and advertising amid a regulatory crackdown on tracking cookies, CEO Doron Gerstel said.

Perion Network will relocate Content IQ's New York operations into its New York offices as part of the companies' integration. Israel-based Perion Network is a global technology company that offers advertising services to brands and publishers.

Canaccord Genuity and Lake Street were Perion Network's special advisers on the deal.