Perion Network a global technology company, has announced the completion of its acquisition of Hivestack a leading full-stack programmatic digital out of home (DOOH) company. The deal, which includes a US $100 million cash payment upon closing and a 3-year employee retention and performance-based payment plan of up to US $25 million, signals a significant move in the rapidly growing DOOH sector.

Hivestack's platform, deployed in 32 countries across North America, EMEA, LATAM and APAC, is utilised by some of the world's most prominent brands, agencies, media owners, and partners. Its impressive client roster includes Uber, Colgate, Lego, InterContinental Hotel Group, Doordash, GroupM, dentsu, The Trade Desk, Xandr, Clear Channel, Lamar, Stroër, and many more.

According to a research report by PQ Media, the DOOH channel is projected to grow from US$21.5 billion in 2023 to US$30.7 billion in 2026, reflecting a 15.3% compound annual growth rate (CAGR). This forecast underscores the potential of the DOOH sector and the strategic importance of Perion's acquisition.

Hivestack offers media owners a suite of purpose-built software, including the DOOH Ad Server, SSP, and Header Bidder, designed to manage, deliver, and optimise targeted advertising on digital screens. For media buyers, Hivestack's DOOH DSP, along with tools for audience planning and campaign measurement, provides robust capabilities for sourcing optimal inventory and maximising the effectiveness and ROI of DOOH advertising campaigns.

Tal Jacobson, CEO of Perion, said, 'We welcome Hivestack and its impressive team of professionals to Perion. We look forward to capitalising on the synergies between Hivestack’s technology and Perion’s existing solutions, to provide clients an even more comprehensive, end-to-end offering.'

Andreas Soupliotis, Founder and CEO of Hivestack, also expressed his excitement about the acquisition, stating, '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.'