Amsterdam, November 22, 2022 – Today, Azerion announced the acquisition of Radionomy Group, a global pioneer in digital audio advertising and marketing solutions. With this acquisition, Azerion is launching a new product in the area of audio advertising, allowing customers and partners to expand their engagement with users. This acquisition will strengthen Azerion’s ability to support advertisers and publishers with a full suite of advertising products and further strengthen our entry into the US market.
Radionomy has a unique, proprietary adtech solution covering all aspects of digital audio ⎼ including radio, podcasts, audiobooks and games ⎼ and supporting over 3 billion monthly impressions across more than 30 markets worldwide. It is connected to a wide range of publishers with over 15,000 total audio channels, providing significant scale to drive targeted and effective advertising for advertisers.
Atilla Aytekinco-CEO of Azerion, comments: “I’m excited to add a new suite of audio advertising solutions to our product portfolio and deliver more innovative advertising formats, from digital radio to in-game audio, helping our advertisers and publishers achieve advertising results. and monetization. As a company that strives to offer a complete set of products to its customers, it is important for us to stay on top of the latest market trends. We are proud to be at the center of this emerging innovative digital technology that we plan to develop further over the next few years in the United States, Europe and beyond.
Azerion has signed binding transaction documentation relating to the sale of 100% of the issued and outstanding shares of the share capital of Radionomy Group BV to Targetspot SA, a company listed on Euronext Growth Paris and Brussels. The scope of the transaction includes Radionomy Group BV and all of its subsidiaries and as such does not include the Winamp activities of Targetspot. Closing of the transaction is subject to certain conditions, including approval by Targetspot’s Extraordinary General Meeting (EGM), to be held on December 9, 2022. Closing is expected before December 31, 2022.
The total consideration will be settled primarily through Azerion shares, with the balance settled in cash. A total of 2,782,644 Azerion shares will be transferred to selling shareholders upon closing of the transaction and such Azerion shares equivalent to up to €3 million will be awarded in the future, subject to certain earnout conditions. The Azerion Shares currently held in cash are sufficient to satisfy the Share Consideration. The balance payable in cash includes a closing payment as well as deferred payments. Radionomy is expected to generate approximately €29-30 million in gross revenue in 2022.
Radionomy brings together all of Targetspot’s activity with its subsidiaries. The operation thus involves the indirect sale of all of the subsidiaries of Radionomy Group BV, of the Targetspot and Shoutcast brands and of all of the personnel attached to the activity.
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Azerion is a fast-growing media and digital entertainment platform. We entertain people with highly engaging content and help advertisers reach any audience, at any scale, anywhere in the world, in an easy way, at a competitive price and in a content environment of high quality and organized. Azerion’s integrated platform provides technology solutions to automate the buying and selling of digital advertising for media buyers and sellers, supported by in-market sales and campaign management teams. Using our technology, content creators, digital publishers and advertisers work with Azerion to reach the hundreds of millions of people around the world who play Azerion’s games and view its distributed entertainment content to increase engagement. , loyalty and boost e-commerce.
Founded in 2014 by two Dutch entrepreneurs, Azerion has experienced rapid expansion driven by organic growth and strategic acquisitions. Azerion is headquartered in Amsterdam, the Netherlands, and is a publicly traded company listed on Euronext Amsterdam. For more information visit: www.azerion.com.
Targetspot has been a leader and pioneer in digital audio since 2007. Targetspot connects brands to their target audiences through an inventory of leading publishers in all areas of digital audio. Using its proprietary technologies, Targetspot provides end-to-end integration between advertisers and publishers, for contextually targeted, cookie-free campaigns involving both direct and programmatic buying. Targetspot is also a leader in audio streaming, with its Shoutcast brand allowing more than 85,000 radio stations to be streamed online. Targetspot is operational in 9 countries and employs approximately 100 people worldwide.