The Canadian DOOH market is getting a shake-up ahead of the holidays with news that Hivestack has been acquired by a U.S. firm.

New York-based Perion Network announced this week it is acquiring the Canadian DOOH company for $100 million in cash. Hivestack, based in Montreal, is a full-stack DOOH service with a global footprint.

In a release, Perion said the deal gets them in on the ground floor of the DOOH market, which is steadily transforming the out-of-home industry. As Perion notes, the deal allows it to enter into “an exciting market at its nascent stage, positioning the company to capitalize on its anticipated growth.”

Perion specializes in advertising tech across all major digital channels, such as search, CTV and social. The Hivestack acquisition adds digital OOH to its stack and gets the company a foothold in the 32 global markets that Hivestack currently operates in. In its release, Perion says the scale of Hivestack’s operations will allow them to better ride out ups and downs in local markets.

Perion also noted that Hivestack’s DSP was of particular value to its media-buying client base, providing “robust capabilities for sourcing optimal inventory and maximizing the effectiveness and ROI of DOOH advertising campaigns.”

“Hivestack’s DOOH technology platform stands out by offering … high-visibility creative, precise targeting, immediate impact, wide reach and measurement,” said Tal Jacobson, CEO of Perion. “In addition to advancing our diversification strategy, this transaction aligns with our objective to expand our technological capabilities and product offerings, and we will continue to pursue additional inorganic growth opportunities.”

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