Perion Network, a New York-based advertising tech company, announced its acquisition of Hivestack, a company specializing in digital out-of-home technology. The transaction terms include $100 million paid at closing and up to $25 million more over the next three years.
Hivestack serves media owners, including Uber, Colgate and Lego, in more than 32 countries. The company delivers personalized digital advertising solutions to consumers in public spaces. Perion offers a multi-channel advertising solutions to clients across search advertising, social media, display, video and CTV advertising.
This acquisition will advance Perion’s diversification strategy and help the company expand its tech capabilities and product offerings. Additionally, Hivestack’s global reach expands Perion’s footprint across regions including North America, Europe, the Middle East and Africa, Latin America and the Asia-Pacific region, allowing Perion to capitalize on the economic trends impacting global advertising budgets.
