The details of that story as we have heard it are as follows: One part, focusing on its mobile business, will be run by existing CEO and co-founder Ronen Shilo and the other, called Client Connect, which develops a toolbar for websites (not unlike Google-acquired Meebo) will be merged with Perion, the umbrella company of Incredimail (unified messaging app), Smilebox (photo sharing) and the SweetIM (an IM app). The news follows several unconfirmed reports earlier today noting a company split more than one source close to Conduit also confirmed the details of Conduit’s plans to TechCrunch directly. “Beyond that, there’s nothing specific to say at this point and we don’t comment on rumors.” As some of our products have matured, we have begun efforts to split the company in order to allow our more mature business units to fulfill their potential, while maximizing the opportunities for our other products and services to focus on Conduit’s overall engagement vision,” a company spokesperson told us in an emailed statement. “Conduit has always been about providing engagement solutions across web and mobile platforms. We have also obtained employee memos from sources with more details about the changes we are embedding those below. Conduit, the Israeli-based browser-toolbar and mobile startup estimated to be worth some $1.4 billion, has confirmed to us that it is splitting itself into two entities, but is declining for now to say that it is purchasing Perion as part of the deal.
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