OpenWeb acquires Hive Media Group for $60 million

Israeli unicorn OpenWeb, which develops an audience engagement platform, announced on Wednesday that it has acquired Hive Media Group, an American digital publisher and engagement platform, in a deal valued at $60 million.

Hive, founded in 2016 by Daniel Sagis, Guy Yeshua and Stacy Abraham, is well established in the online media landscape. The acquisition brings on board Hive’s team of more than 60 employees, including product and engineering. This additional expertise and resources will enhance OpenWeb’s ability to build and test innovative products for publishers to strengthen relationships with the public, particularly around building first-party data relationships, creating more impactful editorial tools and increasing long-term value for publishers.

Nadav Shoval, CEO of OpenWeb. Photo: Open Web

“Publishers are looking for the best technology available to improve their revenue and take ownership of their audience relationships,” said Nadav Shoval, CEO and co-founder of OpenWeb. “With this acquisition, we are doubling down on our efforts, further strengthening the capacity for innovation and value for our publisher partners, who aim to have more connections with their audiences.”

At the start of the integration, Hive Media Group will operate as an independent business unit within OpenWeb. Guy Yeshua and Stacy Abraham will remain Chief Executive Officer and Chief Operating Officer respectively. Guy Yeshua will join the OpenWeb management team. With this acquisition, OpenWeb’s global workforce will reach more than 225.

“We have known and admired OpenWeb and its management team for many years,” said Guy Yeshua of Hive Media Group. “Our missions are aligned: uniting only strengthens our efforts to improve the digital experiences of publishers and users. As we forge a new path with OpenWeb, we look forward to creating powerful new tools that empower publishers. »

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