UPDATE: Perion Offers Update to Deal with Google

Perion Network Ltd.

announced today that it amended the term of its existing Google agreement to coincide with the expiration of the current SweetPacks Google agreement on May 31, 2013. “After discussions with Google, we jointly decided to extend the term of our existing deal through the end of May,” said Josef Mandelbaum, CEO of Perion. “Given our recent acquisition of SweetPacks, it made the most sense to negotiate both agreements concurrently.” “We continue to remain confident in our guidance for 2013, announced on January 8^th, of at least $110 million in revenue, $26 million in EBITDA, $20 million in non-GAAP net income and approximately the same for operating cash flow,” concluded Mr. Mandelbaum. "This will result in non-GAAP EPS of at least $1.61, based on an average of 12.4 million shares outstanding."