Perion Network (PERI) Announces $50M Share Buyback

Perion Network Ltd. (NASDAQ: PERI), a technology leader in connecting advertisers to consumers across all major digital channels, announced today that its Board of Directors has authorized a program to repurchase up to $50 million of its ordinary shares. The program is subject to the issuance of the Company’s audited annual financial report for the year 2023, expected in March 2024.

“Perion is a strong, profitable company that is well positioned for the next phase of growth, capitalizing on our innovation and diversification strategy,” said Tal Jacobson, Perion’s CEO. “Perion’s management and the Board of Directors strongly believe that our publicly traded shares are significantly undervalued and do not reflect the strength of our underlying business. We are confident that our continued profitable growth, combined with a strong balance sheet, will support the proposed share buyback as well as our M&A strategy, delivering value to our shareholders.”

Share repurchases under the program will be made from time to time in open market purchases, private transactions or other transactions as permitted by securities laws and other legal requirements. The timing and amounts of any purchases will be based on market conditions and other factors including but not limited to price, regulatory requirements and capital availability. The program does not require the purchase of any minimum dollar amount or number of shares and the program may be modified, suspended or discontinued at any time.

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