Perion Acquires AI Platform Greenbids

When Perion Network Ltd., wanted to take the next step in expanding its offering and fueling potential growth, it decided to acquire Greenbids, an AI platform that can optimize campaigns at scale inside walled gardens such as YouTube, Facebook and Instagram, and leading DSPs such as Google DV360 and The Trade Desk.

The transaction terms included $27.5 million in cash paid upon closing, a two-year cash earnout of $22.5 million, and a three-year employee retention of $15 million in cash and equity. Greenbids was advised by LUMA Partners.

Greenbids’ AI platform has been used by the likes of Spotify, Ford, Accor and 80+ other brands to create custom bidding algorithms, specifically tailored for each brand to make the most of media buys. Spotify used Greenbids’ AI platform for its Wrapped Annual Marketing Initiative across 16 EMEA markets to enhance campaign performance at scale while reducing environmental impact. The execution was meant to demonstrate how custom algorithms can drive both results and responsibility.

Perion itself is a global technology company that works with brands, retailers, and ad agencies. Besides the U.S., it operates in more than 30 countries.

Tal Jacobson, CEO of Perion, went into more detail with StreetFight about what the acquisition means for its business.

Describe what Perion is and what it does.

Perion is a global technology company that delivers business outcomes for brands, retailers, and agencies. Our platform integrates proprietary AI, real-time insights, and dynamic creative tools to optimize the full advertising funnel — from awareness to conversion — across channels like display, CTV, digital out-of-home (DOOH), audio, and social. By intelligently orchestrating media, data, and creativity, Perion harnesses advanced AI to drive measurable results in a fragmented advertising landscape.

What can Perion do now with this acquisition of Greenbids that it couldn’t do before?

With Greenbids, Perion can now bring AI-powered algorithms for bidding strategies to major walled-garden platforms such as YouTube, Facebook, and Instagram. This expands our presence deeper into the lower funnel, unlocking new addressable inventory and enabling a more complete full-funnel solution. Combined with Perion’s strength in impactful upper- and mid-funnel channels like CTV, DOOH, and high-impact display, we now offer brands the ability to orchestrate media across more of the customer journey, optimized in real time for outcomes and efficiency.

How does this acquisition enhance Perion’s local marketing capabilities?

Perion has long empowered brands to connect with consumers locally through channels like CTV, DOOH, and audio — using geolocation, contextual signals, and real-time insights to influence behavior close to the point of purchase. These campaigns are designed to meet people when they’re out in the world and most receptive to action, whether it’s visiting a store, attending an event, or making an impulse buy.

We’re extending that localized precision into the lower funnel by adding social platforms and AI-driven performance bidding through Greenbids, which is called Perion Algo. Local marketers can now dynamically optimize creative and bids based on real-world signals across both awareness and conversion-driven channels, such as time, location, weather, and intent. The result is a smarter, more holistic way to drive foot traffic, online purchases, and in-store conversions in specific markets.

Please provide an example of when and how Greenbids’ technology created custom bidding algorithms, tailored to a particular brand. What did the Spotify campaign look like?

Spotify partnered with Greenbids and media agency UM for its annual Wrapped campaign, aiming to thank users, artists, creators, and authors worldwide. Greenbids developed custom bidding algorithms that automatically adapted Spotify’s online video buying strategy for each impression. These algorithms considered variables such as time of day, day of the week, device, creative, viewability, and cost-per-KPI, updating daily to optimize performance.

This approach led to a 38% reduction in carbon intensity per view and significantly improved cost-based performance metrics. The campaign’s success was recognized with the Best Practice in Sustainable Media Planning award at the 2024 Campaign Ad Net Zero Awards. 

This example illustrates how Greenbids’ AI platform can create tailored bidding strategies that enhance campaign performance and contribute to sustainability goals.

Want to learn more about AI-driven solutions? Join us at Street Fight LIVE 2025!