Adrian J Cotterill, Editor-in-Chief
Perion Network Ltd. (NASDAQ and TASE: PERI), connecting advertisers with consumers through technology across all major digital channels, has completed the acquisition of Hivestack Inc.
The terms of the transaction include USD 100 million in cash paid upon closing and a three year employee retention and performance-based payment plan of up to USD 25 million.
“We are excited about the acquisition of Hivestack, which both complements and advances our long-term growth strategy. Hivestack’s DOOH technology platform stands out by offering brands and advertisers what they crave the most: high-visibility creative, precise targeting, immediate impact, wide reach and measurement,” said Tal Jacobson, CEO of Perion. “In addition to advancing our diversification strategy, this transaction aligns with our objective to expand our technological capabilities and product offerings, and we will continue to pursue additional inorganic growth opportunities.”
We are told that this transaction significantly contributes to Perion’s diversification strategy, enabling it to establish a considerable footprint in the fast-growing DOOH channel and is expected to create synergistic opportunities with Perion’s existing advertising offering and business and fits nicely with the Perion’s retail network strategy.
Andreas Soupliotis, Founder and CEO of Hivestack, said, “Joining Perion marks a significant milestone in our journey. The strength of our technology, coupled with Perion’s market expertise and compelling advertiser solutions, will result in new synergetic solutions that resonate with customers on a worldwide scale. We are thrilled about the endless possibilities that this unlocks.”
Jefferies LLC acted as financial advisor to Perion.
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