Pandora To Acquire AdsWizz
• Streaming giant Pandora announced it would acquire digital audio firm AdsWizz in a deal valued at $145 million. 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. 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.
“Since I joined Pandora six months ago, I have highlighted ad tech as a key area of investment for us,” said Roger Lynch, CEO of Pandora. “Today we took an important step to advance that priority and accelerate our product roadmap. 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.”
Alexis van de Wyer, CEO of AdsWizz commented, “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.” He added, “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 CEO of AdsWizz. This transaction is expected to close in the second quarter of 2018 and is subject to the usual closing conditions and regulatory approval.
