Young Quebec digital signage company Hivestack, controlled by multimillionaire François de Gaspé Beaubien, was just sold to Israeli giant Perion for $136 million.
“The terms of the transaction are $100 million [136 M$ CA] Cash payment at closing and a three-year employee retention and performance-based compensation plan of up to $25 million [34 M$ CA]», details the buyer Perion, in a press release published on Tuesday only in English.
Founded in 2017, Hivestack's majority shareholder is Franbeau Inc., a holding company owned by François de Gaspé Beaubien, the Quebec Business Registrar states. More than 150 people work at the company's headquarters in Montreal.
Uber, Colgate, Lego, Doordash, dentsu, The Trade Desk, Xandr, Clear Channel… Hivestack's platform has been adopted by the largest brands in the world, the company mentions. To date, companies from more than 32 countries have used its technology.
A perfect example of a first programmatic DOOH campaign for Uber Taxi in Hong Kong via their agency Mediacom Hong Kong Screenshot Twitter Hivestack
François de Gaspé Beaubien, who bought Zoom Media in 2003 after investing in it since 1994, is also president of the nonprofit AquaAction, whose mission is “to restore the health of freshwater in South America.”
Pierre Fitzgibbon and François de Gaspé Beaubien Provided by AquaAction
Last year, Pierre Fitzgibbon's Ministry of the Economy awarded AquaAction a financial contribution of $2 million for its AquaEntrepreneur Québec program, which aims to “accelerate the implementation of innovative technologies in water management.”
Shareholder IQ
Hivestack has Investissement Québec (IQ) as its second shareholder, also according to the register.
In total, IQ invested $27 million in stocks in July 2020 ($10 million) and in convertible notes in December 2021 and last May ($12.5 million + $4.5 million). Hivestack also received a $3.4 million loan in 2018. The latter was repaid.
“Given the rapid development of the digital outdoor advertising sector and the accelerating trend towards market consolidation due to the presence of large multichannel players, the company needed to partner with another strategic player,” IQ spokeswoman Isabelle Fontaine told the Journal.
“The buyer has also expressed to us their desire to further expand the platform and the team of Quebec developers,” she added.
Contacted by Le Journal on Tuesday, Hivestack declined our requests for an email interview in English.
– In collaboration with Sylvain Larocque
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