Perion Network Ltd. yesterday acquired Hivestack Inc., a global full-stack programmatic digital out of home (DOOH) company.
The transaction includes a cash payment of US$100 million and a 3-year employee retention and performance-based payment plan of up to US$25 million.
Hivestack's technology is used by many of the world's largest brands, agencies, media owners, and partners.
The acquisition will significantly contribute to Perion's diversification strategy, enabling it to establish a considerable footprint in the fast-growing DOOH channel.
Hivestack offers media owners an array of purpose-built software and tools for media buyers, including DOOH Ad Server, SSP, and Header Bidder, DSP, audience planning, and campaign measurement.
The acquisition is expected to create synergistic opportunities with Perion's existing advertising offering and business and fits nicely with the company's retail network strategy.
- Acquisition price: US$100 million in cash and up to US$25 million in performance-based payments
- Number of employees: Approximately 200
- Geographical reach: 32 countries spanning North America, EMEA, LATAM, and APAC
- Target market: Media owners and advertisers seeking to utilize DOOH advertising
- Strategic benefits: Diversification into the growing DOOH market, enhanced platform offerings for both media owners and advertisers, potential synergies with Perion's existing business
Perion Network Ltd. is a global technology company that connects advertisers with consumers through technology across all major digital channels. The company operates across three main pillars of digital advertising – ad search, social media, and display/video/CTV, representing a potential market of more than $300B.
Perion's technology stack powers a wide range of advertising solutions, including programmatic advertising, data management platforms, and content optimization. The company's products and services are used by a variety of advertisers, including large enterprises, small and medium-sized businesses, and agencies. Perion has a global presence with offices in North America, Europe, Asia Pacific, and Latin America.