Israeli company SweetPacks, founded in 2000, was just recently acquired by Perion Network, an Israeli digital media company. The acquisition, worth $43 million in cash and stocks, took place on November 12th, 2012.[bra_blockquote align=””]“This combination provides meaningful scale and adds improved back-end systems that will strengthen our competitive advantage,” said Josef Mandelbaum, Perion’s CEO. “This acquisition further accelerates our own efforts to scale, adds 22 million new users, creating a larger and more profitable company.”[/bra_blockquote]
SweetPacks is a company that provides users with easy to use tools to enhance the digital experience, such as SweetIM, a messaging tool that allows users to express across messaging, Facebook, and Email. The company also has other cool apps. Ginger is an app that saves you from embarrassing typos and horrible grammar. The app underlines words that don’t fit in the sentence based off the sentence’s context and structure.
SweetPacks was founded in 2000, and generated almost $30 million in 2012, almost double the profits the company saw in 2011, which came in at $15.7 million. SweetPack’s CEO Nadav Goshen will join Perion as the Chief Operating Officer.
[bra_team_member member_name=”Elan Yudkowsky” member_position=”Intern at OurCrowd” member_img_src=”http://blog.ourcrowd.com/wp-content/uploads/2012/10/elan.jpg” member_social_list=”LinkedIn, http://www.linkedin.com/pub/elan-yudkowsky/5a/689/649″ member_columns=”2″]Elan Yudkowsky is an intern at OurCrowd. He will be attending the University of Maryland in the Spring.[/bra_team_member]