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
SmartStream Steps Ahead with New Industry Digital Payments Solution23.10.2018 02:01 | Tiedote
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced the launch of TLM Aurora, the next generation of Corona, the industry’s leading reconciliation platform – the first new module is designed to support the new industry standards in the digital payments world, by providing connectors to SWIFT GPI, RTGS, as well as Blockchain based networks, allowing for real-time operational control, proactive exception management and low TCO. TLM Aurora provides the new generation of integrated operational control for the digital marketplace. As transactions increase in variability, velocity and volume, the need for scalable, real-time, integrated reconciliations is greater than ever. TLM Aurora supports organisations in performing operations such as SWIFT and SEPA transfers, mobile, cash and card payments, digital currencies, settlements and reconciliations. The solution is agile enough to support the smallest of organisations and can be
CoreLogic to Acquire Symbility Solutions Inc.23.10.2018 01:12 | Tiedote
CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today announced the Company has entered into a definitive agreement to acquire the outstanding shares of Symbililty Solutions Inc. (“Symbility”) (TSX.V: SY) not already owned by CoreLogic. CoreLogic currently holds approximately a 28% ownership interest in Symbility. Symbility, founded in 2004, is a leading provider of subscription and cloud-based property insurance claims workflow solutions for the Property & Casualty insurance industry. Symbility also provides an extensive array of innovative enterprise mobile and application software solutions. The company is headquartered in Toronto, Canada and operates in the U.S., Canada, the United Kingdom, Germany, Netherlands, Australia and New Zealand. “Symbility expands our footprint in property and casualty insurance domestically and in key markets around the globe. Further scaling our insurance and international footpri
Pacific Drilling Awarded Contract for the Pacific Bora23.10.2018 00:00 | Tiedote
Pacific Drilling S.A. (OTC: PACDQ) (“Pacific Drilling” or the “Company”) announced today that its deepwater drillship the Pacific Bora has been awarded a contract by Nigerian Agip Exploration Limited (a subsidiary of Eni SpA) for drilling operations in Nigeria. The term of the contract is for one firm well plus two additional option wells. The contract is expected to commence in mid to late November 2018 and firm contract backlog is estimated at $9 million. Pacific Drilling Chief Executive Officer Paul Reese commented: “On the heels of our previous announcement of new work for Pacific Santa Ana in Mauritania, we are pleased to have secured this contract for the Bora which reflects our substantial experience in Nigeria and our uninterrupted commitment to providing exceptional drilling services to our clients.” Currently offshore Abidjan, Côte d'Ivoire, the Pacific Bora is a sixth generation deepwater, dynamically-positioned drillship capable of operating in water depths up to 10,000 fee
ResMed Wins German Patent Infringement Case Against Fisher & Paykel22.10.2018 23:30 | Tiedote
ResMed (NYSE: RMD) (ASX: RMD), the world’s leading tech-driven medical company and innovator in sleep apnea and respiratory care, today announced the results of a court and patent office ruling in Germany in ResMed’s favor. A trial court ruling from the Munich District Court states that the headgear used on two Fisher & Paykel CPAP masks – the Simplus full face and Eson 2 nasal mask – infringes ResMed patent EP 2 373 368 B1 in Germany. In a separate decision, the Opposition Division of the European Patent Office had already decided that the patent asserted against Fisher & Paykel is valid. Each decision may be appealed by Fisher & Paykel. “We applaud the Munich District Court for reaching this just finding, and are exploring all options in light of the fact that Fisher & Paykel is selling CPAP masks with headgear that infringes a valid ResMed patent in Germany,” said ResMed Chief Administrative Officer and Global General Counsel David Pendarvis. “We will continue to defend our intellec
Grand Prize Winner in $1.75M Water Abundance XPRIZE Announced at XPRIZE Visioneering 201822.10.2018 20:49 | Tiedote
During Visioneering 2018, XPRIZE’s annual gathering of philanthropists and innovators to evaluate concepts for future competitions, the Foundation revealed the results of its latest, completed XPRIZE. The Skysource / Skywater Alliance was announced as the grand prize winner of the $1.75M Water Abundance XPRIZE, a two-year competition aimed at alleviating the global water crisis with energy-efficient technologies that harvest fresh water from thin air. In addition at Visioneering, five new prize concepts were evaluated with top honors going to a prize concept called “Coral Survival”, a prize designed to protect and restore coral reefs. This prize will move forward into the XPRIZE pipeline. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181022005795/en/ The Skysource / Skywater Alliance team, based in Venice Beach, California, wins the Water Abundance XPRIZE (Photo: Business Wire) The Water Abundance XPRIZE, powered by the Tat
Positive Trial Results with Filgotinib in Psoriatic Arthritis and Ankylosing Spondylitis Both Published in The Lancet22.10.2018 20:15 | Tiedote
Gilead Sciences, Inc. (Nasdaq: GILD) and Galapagos NV (Euronext & NASDAQ: GLPG) today announced that detailed results from two clinical trials evaluating filgotinib, an investigational, selective JAK1 inhibitor, for the treatment of psoriatic arthritis and ankylosing spondylitis were both published in The Lancet. The publication of the Phase 2 EQUATOR data also coincides with a plenary session presentation at the 2018 American College of Rheumatology/Association of Rheumatology Health Professionals (ACR/ARHP) Annual Meeting. “The results of the EQUATOR and TORTUGA studies demonstrate that filgotinib improved the signs and symptoms of patients with psoriatic arthritis whose disease had not responded to prior therapies and independently, for those with ankylosing spondylitis,” said John McHutchison, AO, MD, Chief Scientific Officer and Head of Research and Development, Gilead Sciences. “These findings represent an important step forward in our efforts to improve outcomes for people livin
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