Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 175

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 18
Chunk 175
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                      Initially               Measurement             December 31,     
                     Reported as           Period Adjustment              2024         
                   of December 31,                                                     
                         2023                                                          
---------------------------------------------------------------------------------------
Net                          $8,853       $889                               $9,742    
Assets1                                                                                
Technology                   35,072                  -                       35,072    
Customer                     11,206                  -                       11,206    
Relationship                                                                           
Tradename                     3,158                  -                        3,158    
Deferred                     (3,806   )              -                       (3,806   )
Taxes                                                                                  
Goodwill                     52,448                  (889       )            51,559    
Net                        $106,931       $-                               $106,931    
assets acquired                                                                        

1 Includes cash in the amount of $5,010.

 The initially reported amounts presented in the table above pertained to the preliminary purchase price allocation reported in the Company's 2023 financial statements. The measurement period adjustment was associated with the Goodwill and Net Assets.

 Goodwill is primarily attributable to expected synergies arising from technology integration and expanded product availability to the Company’s existing and new customers.
 
   F - 28

PERION NETWORK LTD. AND ITS SUBSIDIARIES
 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
 U.S. dollars in thousands (except share and per share data)
 
 
NOTE   ACQUISITIONS
 5:      (Cont.)   
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 Technology includes an array of purpose-built software like the DOOH Ad Server, Header Bidder, Supply-Side Platform (“SSP”), and Demand-Side Platform (“DSP”), designed to manage, deliver, and optimize targeted advertising on digital screens, enhancing yield and sourcing demand efficiently. The technology is amortized over the estimated useful life of 8 years using the straight-line method.

 
 Customer relationship is derived from customer contracts and related customer relationships with existing customers. Customer relationship is amortized based on the accelerated method over the estimated useful life of 15 years.

 
Tradename is derived from developed products tradenames, common law tradenames, service marks, service names, brand names, trade dress rights, logos, internet domain name and URL addresses and general-use e-mail addresses. Tradename is amortized over the estimated useful life of 10 years using the straight-line method.
 
The results of operations of Hivestack have been included in the consolidated financial statements since the date of the acquisition.
 
The Company incurred acquisition related