Grow Mobile Acquired By Perion For As Much As $42M

San Francisco-based Grow Mobile, a provider of mobile advertising software used for buying, tracking, optimizing, and otherwise managing user acquisition campaigns, has been acquired by Perion. Perion operates a wide range of Internet and mobile properties. Perion said it would pay $17M for Grow Mobile, split between $10 in cash and $7M in equity, but that after earn out the deal may reach up to $42M.