Azerion has followed up its recent acquisition of Hybrid Theory with the purchase of digital audio advertising and marketing solutions business Radionomy Group. The digital entertainment and media platform will use the acquisition to launch a new audio advertising product, enabling it to deliver a wider suite of advertising products to its clients and partners.
Radionomy’s ad tech solution covers all aspects of digital audio, including radio, podcasts, audiobooks, and games. It supports more than three billion monthly impressions in over 30 markets around the world, and has more than 15,000 audio channels in aggregate.
“I am excited to add a new suite of audio advertising solutions to our product portfolio and offer more innovative ad formats, from digital radio to in-game audio, helping our advertisers and publishers achieve optimal advertising and monetisation results,” said Atilla Aytekin, co-CEO of Azerion.
As a company that strives to offer a complete set of products to our customers, it is important for us to stay at the forefront of the latest market trends. We are proud to be at the centre of this nascent innovative digital technology that we expect to develop further over the next few years across the United States, Europe, and beyond.”
Azerion acquires Radionomy from Targetspot, claiming the entirety of the latter’s digital audio business, which includes the Shoutcast brand. Targetspot will continue to operate with a focus on Winamp, its audio player, which houses two additional brands: Bridger, a copyright management platform; and Jamendo, a music platform.
Radionomy’s shareholders will receive the equivalent of €19.1 million in Azerion shares (2,782,644), as well as a total cash payment of €7.5 million. The shareholders will also receive up to €3 million in Azerion shares in the future, subject to earn-out conditions. The transaction is expected to close before the end of the year.
*Azerion is a client of Bluestripe Communications, owned by Bluestripe Group, owner of NDA