The new contract is a major factor in Perion’s path to achieve sustainable and highly profitable double-digit annual revenue growth going forward
Perion Network (NASDAQ: PERI) announced today the renewal of a multi-year strategic partnership with Microsoft (NASDAQ: MSFT) to drive search advertising business growth through Perion’s search technology division, CodeFuel, and provide a more immersive experience across desktop and mobile.
The continuing collaboration between the companies will enable CodeFuel to further grow its publisher relationships offering, lucrative search technology solutions, and sophisticated expertise for monetizing their digital properties. These include shopping, product comparison and content websites, applications, browser extensions, mobile launchers, and white label search engines. Leveraging CodeFuel’s publishers’ network enables Microsoft to increase search advertising market share and connect advertisers to millions of potential customers while enriching user experience through publisher properties.
In the past two years, CodeFuel has exhibited significant growth through empowering publishers to create new revenue streams and unique search experiences, while focusing on increasingly high quality monetization solutions to track search demand.
“Since 2010, we have enjoyed a strong, close partnership with Microsoft, consistently delivering innovative search solutions in a dynamic market, while maintaining high-quality standards and advertiser brand safety,” said Doron Gerstel, CEO of Perion. “As we enter the next phase of our partnership, we are confident that our complementary resources will continue to yield innovation and we are proud of the ability to help publishers monetize their traffic during all economic cycles.”
“In this renewal, the partnership with Perion and CodeFuel has been throroughly modernized to ensure an optimal experience for Microsoft Bing consumers and advertisers,” said Kya Sainsbury-Carter, VP of Global Partnerships for Microsoft Advertising. “Perion has leaned collaboratively into shared goals for brand safety and user protections, and we look forward to growing into this new era together.”
“We are delighted to continue to work closely with Microsoft on Publisher Search Solutions for desktop and mobile. Our mission is to continue to empower publishers with advanced technology solutions to grow their businesses. An enhanced search experience has proven itself to be a predictable and valuable path for growth, both for our publishers and us,” said Tal Jacobson, General Manager at CodeFuel. “This collaboration will enable publishers to expand into new platforms and vertical search solutions f