Perion rallies as IronSource reportedly raises funding, preps IPO

|About: Perion Network Ltd. (PERI)|By:, SA News Editor

The WSJ reports IronSource, an Israeli provider of an app distribution/monetization platform for developers, has raised $80M-$100M ahead of an expected Q2 2015 IPO.

The paper adds Morgan Stanley and JPMorgan have been hired as advisers for the IPO, and that the offering could involve a ~$1.5B valuation.

IronSource has annual sales of $260M. Its services are leveraged by 100M+ users each month.

Perion (PERI +3.3%), which offers its own app distribution/monetization platform, is rallying on a good day for tech. Shares sold off last week due to a full-year guidance cut caused in large part by Google Chrome policy changes.