Pandora Completes Acquisition of AdsWizz
Pandora (NYSE: P), the largest music streaming service in the U.S., today announced it has completed its acquisition of AdsWizz, the global leader in digital audio advertising technology.
“Audio is the fastest growing format in digital advertising and the marketplace is rapidly evolving,” said Pandora CEO Roger Lynch. “Completing the acquisition cements our position in the future of audio, making us more ready than ever to serve publishers and brands worldwide.”
“We built the AdsWizz platform using innovative technology in service of a simple idea: provide value to all stakeholders in the digital audio ecosystem - including brands, listeners and publishers - with relevant, engaged and highly targeted advertising experiences,” said Alexis van de Wyer, CEO of AdsWizz. “This will not change. We will continue to focus on building the best technology in the industry for our publisher partners everywhere, and on continuing to innovate and enhance our platform, which will be accessible to all.”
AdsWizz will operate as a standalone subsidiary of Pandora, continuing under Alexis van de Wyer’s leadership. At closing, Pandora paid $66.3 million in cash and 9.9 million shares of Pandora common stock. An additional $5 million in cash is payable upon achievement of certain milestone provisions in connection with the acquisition.
Concluded Roger Lynch, “As a publisher, Pandora has long understood the value that a sophisticated advertising platform can bring to everyone in digital audio. We are the leader in this space, and we remain committed to serving all constituents in the ecosystem.”
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 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.
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Western Union Works with TerraPay to Expand Payout Options to Millions of Mobile Wallets13.12.2018 12:00 | Pressemelding
Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement, announces an alliance with TerraPay to enable mobile wallet and bank account payout. The alliance further expands upon Western Union’s account payout network for sending remittances directly into customers’ mobile wallets across Europe, Africa, Asia and Latin America. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181213005331/en/ TerraPay CEO Ambar Sur and Head of Account Payout Network for Western Union Sobia Rahman (Photo: Business Wire) TerraPay’s low value payments network connects financial instruments internationally. The company’s interoperability engine enables customers to send and receive transactions across diverse payment instruments and platforms – enabling mobile wallets in international, regional and domestic markets. “Joining with TerraPay is a great opportunity to further diversify and expand our payment options across the gl
Slice Insurance Cloud Services Now Available in the UK & EU13.12.2018 12:00 | Pressemelding
Slice Labs Inc., an award-winning on-demand insurance cloud platform provider, announced today the availability of Insurance Cloud Services (ICS) in the UK and EU. The first customer to use ICS in the UK is Legal & General with the launch of on-demand, pay-per-use homeshare cover. Insurance products available through the Slice ICS platform offer customers a rich, engaging, fully digital experience that is quick, and flexible. True to the company’s stated intention of extending global availability of ICS following a $20M USD Extended Series A, UK and EU insurers are now able to subscribe to ICS and launch on-demand insurance products customised to locale, language, and demographics. Cheryl Agius, CEO of Legal & General’s Insurance division, said “Legal & General is delighted to be working with Slice on the new on-demand product, a growing business in the US and now in the UK market.” European insurtech influencer Dr. Robin Kiera, CEO of DigitalScouting added, “Digital transformation lea
The Coca-Cola Company Announces Loan Agreement with Ioniqa Technologies to Transform Hard-to-Recycle Plastic Waste into High-Quality, Food-Grade PET13.12.2018 12:00 | Pressemelding
The Coca-Cola Company today announced a new agreement extending a loan to Ioniqa Technologies (The Netherlands) to facilitate the development of Ioniqa’s proprietary technology to produce high-grade, recycled PET content from hard-to-recycle PET waste. The agreement is designed to accelerate the development and deployment of high-grade recycled content PET for use in bottles used by The Coca-Cola Company. This investment supports the company’s global vision to work toward a World Without Waste, which includes a goal to create packaging made of at least 50% recycled material by 2030. The new technology supports the circular economy for plastics by allowing packages such as colored PET bottles that may have been excluded from certain recycling streams to be recycled into food-grade quality packaging. The agreement is intended to accelerate scale-up of Ioniqa’s recycling technology for PET. Ioniqa has developed a proprietary recycling technology that is able to convert hard-to-recycle PET
GeoSpock Collaborates With GeoWorks On Large Scale Geospatial Data Processing Innovation13.12.2018 11:19 | Pressemelding
GeoSpock® – the extreme-scale, data integration company that provides analytics, builds insight, and enables predictions across space and time – today announced a collaboration with the Singapore Land Authority (SLA) to drive large scale geospatial data processing and analytics. The introduction of GeoSpock’s data processing engine will enable location intelligence and rapid visualisation, supporting GeoWorks in the drive to promote business growth and innovation across industries. GeoWorks was set up by the SLA as an industry centre to foster a vibrant geospatial ecosystem by connecting geospatial businesses, entrepreneurs, as well as users and support them with the resources and expertise to catalyse geospatial innovation and solutions. For a start, GeoSpock will utilise the SLA’s OneMap datasets for geospatial-temporal visualisation on GeoSpock’s platform to accelerate business intelligence and insights. The collaboration will explore the use of GeoSpock’s technology as a ‘data ocea
The Current RPA Approach is Broken, It’s Time for a People1st Approach13.12.2018 09:42 | Pressemelding
Businesses are still struggling to understand where and how to start Robotic Process Automation (RPA). This was also a key finding of the first-of-a-kind global research by Softomotive into RPA for Growth Companies conducted by KS&R. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181213005261/en/ The Softomotive People1st Approach puts People before Robots. (Photo: Business Wire) “Despite uncertainty about which are the best processes to start automating, conventional wisdom is still typically to start with a big bang approach with high upfront investments associated with software, hardware and consulting, which carries more project risk, is more rigid and is less innovative, “said Marios Stavropoulos, CEO and co-founder of Softomotive, “In whichever currency you work in, it simply does not add up any longer. This has led some of our customers to say that there must be a better way to RPA rather than doing the same old thing
Adnuntius Enriches Geotargeting Capabilities With Digital Element’s IP Intelligence Solution13.12.2018 09:02 | Pressemelding
Digital Element, the global IP geolocation data and services provider, has today announced that specialist online advertising and marketing platform, Adnuntius, has chosen its NetAcuity PulseTM technology to improve targeting capabilities for its global publishing and marketing clients. Adnuntius provides a holistic solution for data utilisation, programmatic buying and selling, and effective ad serving to clients internationally. By deploying Digital Element’s NetAcuity Pulse IP intelligence, Adnuntius will achieve the highest level of geotargeting available for its clients, right down to a hyper-local postcode level. The identification of connection type and speed, mobile carrier and internet service provider also helps Adnuntius’ clients to effectively build highly accurate targeting profiles. “We enable publishers and marketers to reach the right audience with the right ad in the right context,” commented Stian Remaad, CEO and Co-Founder Adnuntius. “When a user goes to a webpage us