Perion Network Ltd (PERI) – Extraordinary Shareholders’ Meeting

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Perion Network Ltd (PERI) – Extraordinary Shareholders’ Meeting

Activism: Perion Network Ltd (PERI) – Extraordinary Shareholders’ Meeting by iolite

In iolite’s H1/16 report (download here) I wrote: the financially most painful investment decision in my life to date has been an investment in Perion Network (NASDAQ:PERI). This is an investment in what was once Israel’s largest IT start-up, after it had fallen on hard times and looked cheap in the aftermath. Unfortunately, there are serious issues with current management: a lack of credibility, a track record of horrendous capital allocation, and an overhead structure that no longer fits the size of the business. Many of these issues only revealed themselves over time and only became obvious earlier this year. It took me too long to spot them and to act accordingly.

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