Friday, January 3, 2014

Smilebox Parent Perion Buys Conduit's ClientConnect Business

Perion Network Ltd., the Israeli parent of Seattle's Smilebox, said this week that it has completed its deal to acquire the ClientConnect business of San Francisco-based browser toolbar maker Conduit. The deal was worth approximately $660M in 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 for Conduct's ClientConnect business, and also hired 470 of Conduit's employees.