September 17, 2014 / 7:35 AM / 4 years ago

IAC offers more than $500 million to buy Israel's Perion: media

JERUSALEM (Reuters) - New York-based media and Internet company IAC/Interactive Corp has offered to buy Israel-based Perion Network, an Israeli financial news website said on Wednesday.

Israel’s Calcalist, quoting unnamed market sources, said that IAC has offered more than $500 million for Perion, whose technology helps developers distribute apps and make money off them through advertising.

An official at Perion told Reuters the company was not commenting on the report. Officials from IAC were not available for an immediate response.

Perion had a strong second-quarter, but it lowered its 2014 outlook after Google dented revenue prospects by unexpectedly altering its browser policy.

The company recently extended a partnership with Microsoft that has brought hundreds of millions of dollars in revenue and says it is looking to lift its activities in mobile application advertising.

IAC’s portfolio includes websites like About.com and Dictionary.com, and brands such as Vimeo and CollegeHumor.

Reporting by Ari Rabinovitch

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