Pandora to Acquire Leading Digital Audio Ad Tech Firm AdsWizz
Pandora (NYSE: P), the largest music streaming service in the U.S., today announced it will acquire AdsWizz, the global leader in digital audio ad technology. The addition of AdsWizz will upgrade Pandora’s ad tech capabilities, provide its advertisers with greater audience reach, and expand the company’s revenue opportunities.
AdsWizz is one of the few ad tech firms that is completely dedicated to digital audio, serving some of the largest players in the industry. With digital audio advertising growing 42% year-over-year, according to the IAB, the combined offering of Pandora and AdsWizz will capitalize on this trend, while making it easier for publishers to monetize their inventory, and for advertisers to buy and measure their campaigns.
“Since I joined Pandora six months ago, I have highlighted ad tech as a key area of investment for us. Today we took an important step to advance that priority and accelerate our product roadmap,” said Roger Lynch, CEO of Pandora. “With our scale in audio advertising and AdsWizz’s tech expertise, we will create the largest digital audio advertising ecosystem, better serving global publishers and advertisers — while improving Pandora’s own monetization capabilities.”
Once fully integrated, advertisers will be able to transact through AdsWizz’s global marketplace across Pandora and other leading audio publishers. Pandora will support the growth of AdsWizz’s core business and invest in technology development that serves all constituents.
“For the last ten years, our mission at AdsWizz has been to enable the global monetization of digital audio by building innovative advertising technologies for music streaming services, digital broadcasters and podcasters. We believe in providing value to all stakeholders — brands, publishers and listeners — through engaging and well-targeted advertising experiences,” said Alexis van de Wyer, the CEO of AdsWizz. “Now is the time to combine forces with Pandora, one of the leaders and pioneers in digital audio, and accelerate our ability to provide solutions that meet the increasingly sophisticated needs of advertisers and digital audiences.”
At the closing of the transaction, AdsWizz will become a subsidiary of Pandora, with Mr. van de Wyer remaining the CEO of AdsWizz. Pandora agreed to pay $145 million in a combination of cash and stock, with a minimum of 50 percent paid in cash and the remainder to be paid, at Pandora’s election, in either cash or stock (with the stock conversion based on the dollar-volume-weighted average trading price for Pandora's common stock for 10 trading days prior to the closing), subject to certain price adjustments at and after closing. The acquisition does not change the first quarter 2018 guidance or the full year 2018 commentary that was provided on Pandora’s most recent earnings call. This transaction is expected to close in the second quarter of 2018 and is subject to customary closing conditions and regulatory approval.
Pandora is the world’s most powerful music discovery platform – a place where artists find their fans and listeners find music they love. We are driven by a single purpose: unleashing the infinite power of music by connecting artists and fans, whether through earbuds, car speakers, live on stage or anywhere fans want to experience it. Our team of highly trained musicologists analyze hundreds of attributes for each recording which powers our proprietary Music Genome Project®, delivering billions of hours of personalized music tailored to the tastes of each music listener, full of discovery, making artist/fan connections at unprecedented scale. Founded by musicians, Pandora empowers artists with valuable data and tools to help grow their careers and connect with their fans.
AdsWizz has created the end-to-end technology platform that is powering the digital audio advertising ecosystem. AdsWizz powers well-known music platforms, podcasts and broadcasting groups worldwide with a comprehensive digital audio software suite of solutions that connect audio publishers to the advertising community. From dynamic ad insertion to advanced programmatic platforms to innovative new audio formats, AdsWizz efficiently connects buyers and sellers in digital audio. AdsWizz is headquartered in San Mateo, California, with a presence in 39 countries around the world.
“SAFE HARBOR” STATEMENT
This press release contains forward-looking statements within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the completion of the acquisition of AdsWizz, and the timing of doing so, and the benefits to Pandora from the acquisition of AdsWizz. These forward-looking statements are based on Pandora's current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, the failure or delay in the satisfying of closing conditions to the acquisition, difficulties in integrating the AdsWizz business, and other uncertainties associated with the acquisition of a new business, competitive factors; our ability to manage our growth; and general economic conditions worldwide. Further information on these factors and other risks that may affect the business are included in filings with the Securities and Exchange Commission (SEC) from time to time, including our most recently filed Annual Report on Form 10-K, particularly under the heading “Risk Factors.”
These documents are available online from the SEC or on the SEC Filings section of the Investor Relations section of our website at investor.pandora.com. Information on our website is not part of this release. All forward-looking statements in this press release are based on information currently available to Pandora, which assumes no obligation to update these forward-looking statements in light of new information or future events.
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Bridgestone Europe To Acquire TomTom Telematics For €910 Million Cash Consideration22.1.2019 09:58 | Tiedote
Bridgestone Europe NV/SA (“Bridgestone”), a subsidiary of Bridgestone Corporation in EMEA, has entered into an agreement with TomTom to acquire its telematics business, for a cash consideration of €910 million. The transaction will bring together the world’s largest tyre and rubber company with the number one provider of digital fleet solutions in Europe, creating a leading data platform for connected vehicles. TomTom Telematics will accelerate Bridgestone on its journey to becoming a mobility solutions leader in the region, and the combination of both companies’ offerings will allow Bridgestone to cross-sell tyres and solutions to a larger customer base. Furthermore, the data access will enhance Bridgestone’s virtual tyre development and testing as well as connected tyre innovation benefiting all customers including OEMs. New social, economic and technological megatrends are pushing the pace of change in the automotive industry and the future of vehicles is connected, autonomous, shar
GA Telesis Board Appoints Norman Liu as an Independent Director22.1.2019 09:00 | Tiedote
GA Telesis, LLC, a leading global commercial aviation integrated services provider, announces that its Board of Directors will appoint Norman C.T. Liu as an Independent Board Member effective February 1, 2019. Norm brings over 35 years of experience in aviation financing, infrastructure investing and investment banking. He is the former Chairman, President and CEO of GE Capital Aviation Services (“GECAS"), a world leader in commercial aircraft leasing and financing. He retired from GE at the end of 2016 after 30 years of service and is currently a senior advisor to various companies in the infrastructure and aviation sectors. He was an Advanced Leadership Fellow at Harvard in 2017 and also serves as an Adjunct Professor at University College Dublin in Ireland. He received his bachelor’s degree from Yale University and his MBA from Harvard Business School. “We are pleased that Norm will be joining our Board to participate in the explosive growth of our franchise,” said Abdol Moabery, Pr
Ferring, Rebiotix and Karolinska Institutet Extend Collaboration to Research Next Generation of Microbiome Treatments22.1.2019 09:00 | Tiedote
Ferring Pharmaceuticals and Karolinska Institutet announced today a five-year extension of their collaboration to explore the potential of the human microbiome in reproductive medicine and women’s health and gastroenterology. The collaboration brings together specialist expertise from Karolinska Institutet in early stage research, Rebiotix Inc. (acquired by Ferring in 2018), a late-stage clinical microbiome company, and Ferring’s therapeutic area and commercialisation capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190121005428/en/ The extension includes six reproductive health clinical studies of approximately 6,000 women and babies and four gastroenterology studies of approximately 3,000 adults and children, to further investigate the role of the microbiome in areas of high unmet need including recurrent pregnancy loss, preterm birth and inflammatory bowel disease. “The extension of this partnership presents a
Updated Analysis of Pivotal Study Reveals: Proactive, High Dosage of Venofer® Significantly Reduces Risk of Death or Major Cardiovascular Events in Haemodialysis Patients22.1.2019 09:00 | Tiedote
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190121005426/en/ Further to the announcement on 29 October 2018, Vifor Pharma provides an update to the results of the Proactive IV irOn Therapy in haemodiALysis patients (PIVOTAL) trial. This update was necessitated by identification of a programming error in the original analysis by the investigators. The re-analysis of the data revealed a statistically significant improvement in the treatment effects of a higher dose of Venofer® (i.v. iron sucrose) compared with a lower dose. These results supersede those presented at the High-Impact Clinical Trial session at ASN Kidney Week 2018 and published on The New England Journal of Medicine website, NEJM.org, on 26 October 2018. The updated results can be viewed on: www.NEJM.org (DOI: 10.1056/NEJMoa1810742). In the updated results, the primary endpoint ‒ which was the composite of nonfatal myocardial infarction, nonfa
Logitech Delivers Record Q3 Sales, Raises Full-Year Profit Outlook22.1.2019 05:00 | Tiedote
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the third quarter of Fiscal Year 2019. Q3 sales were $864 million, up 6 percent in US dollars and 8 percent in constant currency, compared to Q3 of the prior year. Q3 GAAP operating income reached $123 million, compared to $100 million in the same quarter a year ago. Q3 GAAP earnings per share (EPS) grew 40 percent to $0.67, compared to $0.48 in the same quarter a year ago. Q3 non-GAAP operating income grew 22 percent to $143 million, compared to $117 million in the same quarter a year ago. Q3 non-GAAP EPS grew 22 percent to $0.79, compared to $0.65 in the same quarter a year ago. Year-to-date cash flow from operations was $273 million, compared to $256 million in the same period a year ago. “We delivered record sales and profits in our biggest quarter of the year,” said Bracken Darrell, Logitech president and chief executive officer. “Our innovative, diverse portfolio drove double-digit growth acro
IFF Named to CDP’s A List for Climate Change and Water Security, Confirming Global Leadership for Sustainability22.1.2019 03:05 | Tiedote
Regulatory News: International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF), was recognized on CDP’s A List for Climate Change for the fourth consecutive year and received an “A” for Water Security for the first time, naming IFF a global leader in environmental responsibility. CDP, an international not-for-profit, assesses companies on the comprehensiveness of their disclosure, their awareness and management of environmental risks and their demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. “We are delighted to be among an elite group of companies committed to environmental action,” said Andreas Fibig, IFF Chairman and CEO. “Inclusion in CDP’s A List for Water Security reflects the tremendous effort put into developing our next generation of environmental goals, EcoEffective+.” Mr. Fibig continued, “The recognition by CDP confirms that we are on the right path.” In 2018, the Company esta
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme