iHeartMedia to acquire Triton Digital for US$230 million
There was a big shakeup in the international audio arena overnight, with iHeartMedia set to acquire Triton Digital.
iHeartMedia said the acquisition establishes the company as the only one which can “provide a complete set of advertising technologies and measurement solutions for all forms of audio media”.
iHeartMedia already dubs itself the number one audio company in America and the number one podcast publisher globally.
Triton Digital operates in more than 50 countries, including Australia, and is a global advertising technology SaaS platform for audio streaming, podcasting and metrics which enables publishers to monetise their audiences and maximise the yield of audio inventory.
Contingent on certain conditions, iHeartMedia will pay US$230 million (AU$296.37 million) for Triton Digital.
“With this acquisition, iHeartMedia will now be able to provide audio content to producers and advertisers with an industry-leading full ad service package for streaming and podcasting no matter their size, reach or distribution method,” iHeartMedia said.
In October last year, iHeartMedia acquired Voxnest, a marketplace for podcasts and producer of podcast analytics, enterprise publishing tools, programmatic integration and targeted ad serving. It has also acquired Jelli Inc, Radiojar, and Unified.
Bob Pittman, chairman and CEO of iHeartMedia, said the most recent acquisition sets the company even further apart from the competition.
“iHeart, with our strong leadership position in podcasting, digital radio and broadcast, already provides cutting edge audio management, programmatic and data solutions for the broadcast radio, digital audio and podcasting industries, and this acquisition further strengthens our position as the No. 1 audio company in America and provides unique – and critical – solutions for the industry and for advertisers,” he said.
Neal Schore, CEO of Triton Digital, said the company is thrilled to join the iHeartMedia family.
“We remain deeply committed to providing the world’s broadcasters, podcasters, and online audio publishers with continuously innovated, best-in-class solutions and services for online audio management, advertising, and consumption data, and are well positioned to enhance iHeartMedia’s value proposition to audiences and advertisers.”