Perion is taking its retail media strategy inside the store.
The company announced on August 26 that it is acquiring PRN, a provider of in-store and point-of-care media, in a transaction worth up to $12 million. The deal adds exclusive, multi-year point-of-purchase inventory across major retail and healthcare environments in North America to Perionโs existing portfolio of CTV, digital out-of-home, commerce, social and digital advertising capabilities.
The acquisition comes as Perion has been putting greater emphasis on advertising channels beyond the open web. Its second-quarter results showed retail media spend rising 60% year over year, alongside 56% growth in CTV and 45% growth in DOOH.
PRN gives the company another way to participate in that shift, but this time at the physical location where a consumer is considering a purchase.
The Screen Inside the Store
The central argument behind the acquisition is that the advertising journey does not necessarily end when a shopper enters a store.
Perion said physical retail represents more than 80% of U.S. retail commerce. That makes the store a significant part of the path from advertising exposure to purchase, particularly for brands trying to maintain continuity across multiple channels.
PRN brings media networks covering warehouse club, pharmacy, consumer electronics and grocery environments. Its footprint includes a top warehouse clubโs 4K television network across more than 750 locations in North America, a top big-box retailer across more than 4,500 stores, and a leading national healthcare retailer across more than 2,200 stores.
The relationships also give Perion access to three areas it identifies as major advertising…