Adcore Inc (TSX: ADCO) announced that it has renewed its advertising contract with the Israeli Government Advertising Agency (IGAA) for the fifth year, with a potential value of C$25 million in advertising 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 without the need for further government tenders.
Meanwhile, Adcore managed IGAA’s international digital marketing activity, and before the pandemic, visitor arrivals to Israel grew 25% to an annual record of 4.5 million.
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On January 9, 2022, Israel reopened its borders to vaccinated Americans and other vaccinated tourists from several other key countries.
“We are extremely pleased to announce the renewal of our contract with IGAA, one of our valued customers,” Adcore CEO Omri Brill said in a statement. “Israel has long been a favorite vacation and tourism destination and we are thrilled to support IGAA’s digital marketing effort to bring tourists to Israel.”
Brill added: “The renewal of the contract for the fifth year is a clear vote of confidence by the IGAA in Adcore’s technological solutions and level of service. We are optimistic that the recent reopening of Israel’s borders will be reflected in IGAA advertising spend and lead to strong growth in tourist arrivals throughout 2022.”
By combining deep industry knowledge and experience with its proprietary Artificial Intelligence (AI) engine, Adcore offers a unique digital marketing solution that enables entrepreneurs and advertisers to manage and automate their store advertising. e-commerce businesses and to monitor and analyze the performance of their advertising budget.
Founded in 2006, the company employs more than 50 people at its headquarters in Tel Aviv, Israel, and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
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