Triton Digital, audioBoom Announce $185M Merger
|RADIO ONLINE | Tuesday, February 13, 2018 | 2:19pm CT|
Triton Digital is merging with UK-based podcast network and technology provider audioBoom backed by Nick Candy for a reported $185 million. The deal, characterized as a "reverse takeover," has audioboom acquiring all the stock of Triton parent Triton Digital Canada. Triton Digital will combine with AudioBoom's corporate structure which is traded on the London Stock Exchange. If the merger is completed, the combined companies will operate under the name Triton Digital Group.
Triton's executive team will remain in place with President/CEO Neal Schore, President/Market Development John Rosso, Executive VP/CFO Mark Rosenbaum and Senior VP/ Product and Technology Alex Fournier. In addition, Rob Proctor, current CEO of audioBoom, will join the Triton Digital Group executive team as Managing Director of the audioBoom business unit and remain an Executive Director.
Schore commented, "We're proud of our position in the marketplace. We feel an enormous sense of responsibility to continuously innovate, and to drive monetization opportunities. Our clients can expect us to not only maintain our leadership position, but to have the resources and the team to expand our technology and services meaningfully."
Audioboom currently hosts more than 12,000 content channels, with U.S. content partners including Cumulus Media, Westwood One and Associated Press. The transaction is expected to close in late March or early April.