Adcore announces contract renewal with Israeli government advertising agency with potential annual budget of $25 million
TORONTO, ON/ACCESSWIRE/January 31, 2022/ Adcore Inc. (the “Society” Where “Adcore“) (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ)(TSX:ADCO-WT), a leading e-commerce advertising management and automation platform for leveraging digital marketing in a simple and accessible way (“Effortlessly Marketing”), today announced the renewal of its advertising contract with the Israeli government advertising agency (“IGAA”) for the fifth year at a potential value of C$25 million in ad spend.
Adcore won an IGAA tender in 2018 to manage, together with Maple Team Ltd., a potential budget of C$125 million in online ad spend over five years. The contract is renewable annually with no requirement for additional government bidding. During Adcore’s pre-pandemic period that Adcore ran IGAA’s international digital marketing business, visitor arrivals to Israel increased 25% to an annual record of 4.5 million. January 9and2022, Israel has reopened its borders to vaccinated Americans and other vaccinated tourists from several other key countries.
Omri Brill, Founder and CEO of Adcore, said, “We are extremely pleased to announce the renewal of our contract with IGAA, one of our valued customers. Israel has long been a favorite vacation and tourism destination and we are delighted to support IGAA’s digital marketing effort to bring tourists to Israel.” Mr. Brill added: “The contract renewal for the fifth year is a clear vote of confidence from the IGAA in Adcore’s technology solutions and level of service. We are optimistic that the recent reopening of Israel’s borders will be reflected in the IGAA’s announcement. spend and drive strong growth in tourist arrivals throughout 2022.”
Adcore empowers entrepreneurs, advertisers and the future of e-commerce with its advertising management and automation platform. By combining deep industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that enables entrepreneurs and advertisers to manage and automate their e-commerce store advertising. and monitor and analyze the performance of their advertising budget to ensure maximum return. on investment. In addition to being named multiple times to Deloitte’s Fast 50 Technology list, Adcore is a Certified Google Premier Partner, Microsoft Partner, Facebook Partner, and TikTok Partner.
Founded in 2006, the company employs over fifty people at its headquarters in Tel Aviv, Israel, and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
For more information about Adcore, please visit https://www.adcore.com/investors/.
This press release contains certain forward-looking statements, including statements about the company, estimated annual advertising budgets relating to the new contracts discussed herein, other potential renewals of our contract with the IGAA in future years, the actual amount of tourism in Israel in 2022 and the actual amount of advertising expenditure in 2022 and in the years to come in accordance with this contract. Where possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, ” believes”, “estimates”, “predicts” or “potential” or the negative form or other variations of these words, or similar words or expressions, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors, including, but not limited to, actual advertising budgets related to new contracts referenced herein, travel restrictions imposed by the COVID 19 pandemic and other factors, and the actual amount of advertising spend in 2022 and in future years in accordance with any contact with the IGAA could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be carefully considered and readers should not place undue reliance on forward-looking statements. Although the forward-looking statements contained in this press release are based on what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For more information, please contact:
Martijn van den Bemd,
GM North America
Email: [email protected]
US Investor Relations
John Nesbett/Jennifer Belodeau
IMS Investor Relations
Email: [email protected]
THE SOURCE: Adcore Inc.
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