Perion Network Acquires Full-Stack Digital Out-Of-Home Platform Hivestack; Terms Include $100M Cash Paid Upon Closing And 3-Year Employee Retention And Performance-Based Payment Plan Of Up To $25M
Portfolio Pulse from Benzinga Newsdesk
Perion Network has acquired Hivestack, a full-stack digital out-of-home platform. The terms of the acquisition include a $100M cash payment at closing and an additional performance-based payment plan of up to $25M over three years, contingent on employee retention and performance.
December 12, 2023 | 11:02 am
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POSITIVE IMPACT
Perion Network's acquisition of Hivestack for $100M, with an additional $25M performance-based payment plan, indicates a strategic expansion in the digital out-of-home advertising sector.
The acquisition of Hivestack by Perion Network is likely to be viewed positively by investors as it represents a strategic expansion into a new advertising platform. The significant investment of $100M, with an additional $25M tied to performance, suggests confidence in the potential of Hivestack to contribute to Perion's growth. This could lead to increased investor confidence and a potential short-term rise in PERI's stock price.
CONFIDENCE 90
IMPORTANCE 80
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