NEW YORK & TEL AVIV — Perion Network Ltd., a global advertising technology company, has finalized its acquisition of Hivestack Inc., a leading global programmatic digital out-of-home (DOOH) company. The acquisition, valued at US$100 million in cash at closing, includes a 3-year employee retention and performance-based payment plan of up to US$25 million.
Strategic Move in the Evolving DOOH Landscape
DOOH advertising transforms public spaces into interactive experiences, delivering personalized content in real-time. The acquisition of Hivestack, known for its creative visibility, precise targeting, and broad reach, positions Perion in this evolving market. Tal Jacobson, CEO of Perion, noted, “Hivestack’s DOOH technology platform offers high-visibility creative, precise targeting, immediate impact, wide reach, and measurement. This aligns with our strategy to expand technological capabilities and product offerings.”
Global Reach and Growth Potential
Hivestack’s platform operates in 32 countries across North America, EMEA, LATAM, and APAC, providing Perion with a global footprint. This expansion allows Perion to tap into global advertising budget trends and offer solutions in additional markets. The acquisition supports Perion’s diversification strategy, establishing a presence in the growing DOOH channel, projected to reach US$30.7 billion in 2026, according to a PQ Media research report.
Performance-Based Payment Plan and Transaction Terms
Under the agreement, Perion acquired Hivestack for US$100 million in cash at closing, with additional payments of up to US$25 million structured as a three-year employee retention and performance-based payment plan. The performance-based payment plan is tied to specific EBITDA and contribution ex-TAC targets, ensuring alignment with performance goals.
Andreas Soupliotis, Founder and CEO of Hivestack, remarked, “Joining Perion is a significant milestone in our journey. The strength of our technology, combined with Perion’s market expertise and advertiser solutions, will result in new solutions on a global scale. We are excited about the possibilities this unlocks.”
Looking Forward: Synergies and Comprehensive Solutions
The acquisition is anticipated to create synergies with Perion’s existing advertising offering and business, aligning with the company’s retail network strategy. Mr. Jacobson concluded, “We welcome Hivestack and its team to Perion. We look forward to capitalizing on synergies between Hivestack’s technology and Perion’s existing solutions to provide clients with a comprehensive offering.”
For additional information, please visit Perion’s website at www.perion.com.
