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Advertising technology firm Perion announced today its acquisition of Hivestack, a programmatic digital out-of-home advertising technology platform, according to a press release.
Advertising technology firm Perion announced today its acquisition of Hivestack, a programmatic digital out-of-home advertising technology platform, according to a press release.
Terms include $100 million cash paid upon closing and a three year employee retention and performance-based payment plan of up to $25 million.
“We are excited about the acquisition of Hivestack, which both complements and advances our long-term growth strategy,” Tal Jacobson, CEO at Perion, said in the release. “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.
“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.”
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