Adcore Inc. (the “Company” or “Adcore”) (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way, today announced that the Israeli Government Advertising Agency (“IGAA”) has extended its digital advertising contract with Adcore for an additional 10 months at a potential value of CAD $20 million in ad spend. This extension ensures Adcore will oversee the IGAA’s digital marketing for the remainder of this year.
Adcore has been managing the IGAA’s online advertising spend since 2018, after winning together with an additional agency a tender for IGAA’s program designed to increase incoming tourism to Israel. The original contract was running for five years and the program has been successful in bringing in tourists to Israel. Prior to the pandemic, visitor arrivals to Israel increased by 25% to an annual record of 4.5 million. With its borders again open for visitors, Adcore is expected to play a key role in generating tourism revenue with its accessible and effortless marketing strategies.
Omri Brill, Founder and CEO of Adcore, commented, “I am delighted to announce the extension of our contract with one of Adcore’s most valued clients, the IGAA. Becoming more and more popular, Israel is considered one of the premier vacation spots in the world. With its beautiful beaches, technological innovation capabilities and cultural phenomenon, Israel is becoming a must-see destination, and we are pleased that the IGAA has placed its trust in Adcore once again to lead its digital marketing efforts to drive incoming tourism revenue.” Mr. Brill added “With the pandemic in the rear-view mirror, tourist volume is expected to increase, and we are confident that our advertising program will not only support but increase tourist entries to this beautiful country.”