Israel's Perion Network climbs after acquiring Hivestack

Perion Network

12/12/2023 13:42

** U.S.-listed shares of Israeli ad-tech firm Perion Network
 PERI.O  rise 4.7% to $28.58 premarket 
    ** Co completes its acquisition of full-stack programmatic
digital out of home (DOOH) firm Hivestack for $100 mln in cash 
    ** Deal also includes a three-year employee retention and
payment plan of up to $25 mln in cash in equity 
    ** Hivestack's customers include Uber, Lego and Doordash
    ** PERI says acquisition will help diversify strategy and
establish footprint in the DOOH channel, sees capitalization
opportunity in Hivestack's global markets 
    ** PERI stock up 7.9% YTD as of last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))