Perion plunges on Microsoft Bing search engine changes

• Published date: 08 April 2024
• Author: Shiri Habib-Valdhorn
• Publication title: Globes (Rishon LeZion, Israel)

There is an element of déjà vu about the current situation. Ten years ago Perion's share price fell sharply after Google changed its policy making it difficult for the company to generate income from search based advertising. Perion has since expanded its activities into other areas but it seems still remains vulnerable to the policies of the tech giants

Perion CEO Tal Jacobson said, "Our relationship with Microsoft remains strong and both organizations continue to explore more opportunities to collaborate on a variety of digital advertising solutions. Our strategy was, and continues to be, grounded in a fundamental principle of making sure our solutions are diversified in terms of technologies, channels and partners, while focusing on the needs of our customers, brands and retailers across the digital advertising domain. We continue to expand and strengthen our solutions and technologies by leveraging our cash flow generation and strong cash balance of almost half a billion US dollars to acquire companies that are complementary and additive to our growth."

Even before the latest announcement, Perion's share price was on a...