Perion (PERI) Is Rising On The Charts Today, Why?

Perion Network Ltd. (NASDAQ: PERI) shares are experiencing an upward trajectory on the US stock indices today, marking a notable ascent. As of the last check in current session, Perion stock has surged by 4.69%, reaching $31.14. This surge in the value of PERI shares follows a strategic move involving a substantial acquisition.

Perion (PERI) has successfully concluded the acquisition of Hivestack Inc., a global innovator in the comprehensive programmatic digital out-of-home (DOOH) sphere. The terms of this transaction encompass a cash payment of US $100 million upon completion, coupled with a three-year employee retention plan and performance-based payment structure, potentially amounting to US $25 million.

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DOOH advertising fundamentally transforms ordinary public spaces into dynamic, immersive experiences by delivering eye-catching, personalized content in real-time. Leveraging cutting-edge technologies, it precisely targets, delivers, and measures memorable ads, facilitating the connection between brands and individuals on the move.

With the acquisition of Hivestack, recognized as a programmatic DOOH technology pioneer since 2017, Perion is strategically entering an emergent market, positioning itself to leverage the expected growth in this domain. Hivestack’s platform boasts utilization by numerous leading global brands, agencies, media owners, and partners.

This acquisition not only complements but also advances PERI’s long-term growth strategy. Hivestack’s distinguished DOOH technology platform addresses the most sought-after elements by brands and advertisers: high-visibility creative, precise targeting, immediate impact, extensive reach, and robust measurement capabilities.

In addition to advancing its diversification strategy, this transaction aligns seamlessly with Perion’s overarching objective of expanding its technological capabilities and product offerings. The acquisition will play a pivotal role in enabling PERI to actively pursue additional inorganic growth opportunities. Significantly contributing to Perion’s diversification strategy, this transaction allows the company to establish a substantial presence in the rapidly expanding DOOH channel.

Projections indicate that the DOOH channel’s valuation is anticipated to grow from US$21.5 billion in 2023 to US$30.7 billion in 2026, reflecting a notable 15.3% Compound Annual Growth Rate (CAGR). Anticipated to generate synergistic opportunities with Perion’s existing advertising offerings and business, this acquisition harmoniously aligns with the company’s overarching retail network strategy.

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