Earlier this year, Pandora announced that it would acquire AdsWizz. That same day, AdsWizz confirmed the acquisition in a tweet that linked to a press release on Business Wire. Pandora posted the same press release on their website.
Pandora is the world’s most powerful music discovery platform. AdsWizz has created the end-to-end technology platform that is powering the digital audio advertising ecosystem. From dynamic ad insertion to advanced programmatic platforms to innovative new audio formats, AdsWizz efficiently connects buyers and sellers in digital audio.
Pandora announced that 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, making it easier for publishers to monetize their inventory and for advertisers to buy and measure their campaigns.
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.
The press release states that AdsWizz will become a subsidiary of Pandora. Alexis van de Weyr will remain 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 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. This transaction is expected to close in the second quarter of 2018.