A2Z Cust2Mate Acquires Hadeia for $15 Million in Smart Cart and Retail Media Merger
Nasdaq-traded A2Z Cust2Mate is acquiring media firm Hadeia for $15 million, combining smart cart technology with 40 years of retail advertising experience.
Nasdaq-traded smart cart company A2Z Cust2Mate is acquiring media firm Hadeia for $15 million in a significant retail media merger.
Transaction Terms and Financials
Under the agreement, approximately $8.4 million will be paid in cash, alongside the issuance of about 833,000 restricted A2Z ordinary shares subject to a lock-up period of up to 36 months. Sellers may receive up to an additional $6.7 million in cash, contingent upon meeting agreed performance targets in 2027 and 2028.
The acquisition aims to combine Cust2Mate's smart cart technology, in-store digital advertising spaces, and measurement capabilities with Hadeia's sales apparatus, advertiser relationships, and campaign execution capabilities. Despite the merger, both companies will continue to operate as separate entities. Hadeia's founder Ofer Gal will continue to serve as active chairman, and Maron Gal will continue as CEO.
Smart Carts and Physical Retail Innovation
"This is not just a product, but a blue-and-white platform that connects to everything relevant to the retail industry and the customers themselves," explained Gadi Graus, CEO of A2Z Cust2Mate.
A2Z has developed a Connected In-Store Commerce platform embedded in smart carts, providing a digital touchpoint throughout the shopping journey. These carts can be found in supermarket chains such as Yohananov, Super Sapir, and Neto Hisachon. In 2025, the company raised approximately $100 million from institutional investors in the U.S.
Hadeia brings about 40 years of experience, an established sales network for advertisers, retail visibility solutions, and logistical execution for point-of-sale campaigns. While online e-commerce attracts heavy investments, physical retail remains dominant.
"The emphasis today in retail media is on e-commerce sites, so when people talk about financial investments, they mean the virtual side less than the physical point of sale. But in practice, 85% of purchases still take place at the physical point of sale. Therefore, digital solutions on the physical floor are the future," noted Ofer Gal.
