Perion Network Ltd. (NasdaqGS:PERI) acquired Hivestack Inc. for approximately $130 million on December 12, 2023. The terms of the transaction include $100 million in cash paid upon closing and a 3-year employee retention and performance-based payment plan of up to $25 million. Perion Network will pay up to an additional $25 million (in cash and equity) structured as a three-year employee retention and performance-based payment plan. The performance-based payment plan is tied to EBITDA and contribution ex-TAC annual targets and will be paid in full if Hivestack generates an aggregate of approximately $56 million of EBITDA and $212 million of contribution ex-TAC in aggregate during 2024 through 2026. Jefferies LLC acted as financial advisor to Perion.

Perion Network Ltd. (NasdaqGS:PERI) completed the acquisition of Hivestack Inc. on December 12, 2023.