• by Joe Mandese  @mp_joemandese, December 1, 2015

Tel Aviv-based Perion Network this morning said it acquired Undertone for $180 million in cash.

While details are expected to be announced later today, the initial announcement doesn’t exactly signal a high market multiple value for deal.

The announcement noted that Undertone generated revenue of $104 million through the first nine-months of 2015.

Perion, which describes itself as a “global performance-based” media company providing publishers with “data-driven solutions to monetize their” audiences sounds like an SSP (supply-side platform or ad network, and said that Undertone represents a “premium” diversification for it.

Undertone develops digital ad units designed to help publishers create more engaging ad experiences -- and ostensibly, higher ad rates -- than conventional digital inventory.