Azerion acquires Radionomy and enters audio advertising market
22 November 2022 - 06:07PM
Azerion acquires Radionomy and enters audio advertising market
Amsterdam, 22 November 2022 – Today, Azerion
has announced the acquisition of Radionomy Group, a global pioneer
in digital audio advertising and marketing solutions. With this
acquisition, Azerion launches a new product in the realm of audio
advertising, enabling clients and partners to expand their
engagement with users. This acquisition will enhance Azerion’s
ability to support advertisers and publishers with a complete suite
of advertising products and further solidifies our entry into the
US market.
Radionomy has a unique and proprietary adtech
solution covering all aspects of digital audio ⎼ including radio,
podcasts, audiobooks and games ⎼ and supporting in excess of 3
billion monthly impressions in over 30 markets worldwide. It is
connected to a wide range of publishers with more than 15,000 audio
channels in aggregate, providing meaningful scale to drive targeted
and efficient advertising for advertisers.
Atilla Aytekin, co-CEO of Azerion, comments:
“I am excited to add a new suite of audio advertising solutions to
our product portfolio and offer more innovative ad formats, from
digital radio to in-game audio, helping our advertisers and
publishers achieve optimal advertising and monetisation results. As
a company that strives to offer a complete set of products to our
customers, it is important for us to stay at the forefront of the
latest market trends. We are proud to be at the centre of this
nascent innovative digital technology that we expect to develop
further over the next few years across the United States, Europe,
and beyond.”
Azerion has signed a binding transaction
documentation relating to the sale of 100% of the issued and
outstanding shares in the share capital of Radionomy Group B.V.
from Targetspot SA, a company listed on Euronext Growth Paris and
Brussels. The transaction perimeter includes Radionomy Group B.V.
and all its subsidiaries and, as such, does not include
Targetspot’s Winamp operations. Closing of the transaction is
subject to certain conditions, including approval by Targetspot’s
extraordinary general meeting (EGM), which will be held on 9
December 2022. Closing is expected before 31 December 2022.
The total consideration will be predominantly
settled through Azerion shares, with the balance settled in cash.
In total, 2,782,644 Azerion shares will be transferred to the
selling shareholders at closing of the transaction and such Azerion
shares equivalent to up to €3 million are to be granted in future,
subject to certain earn-out conditions. Azerion’s shares currently
held in treasury are sufficient to satisfy the share consideration.
The balance that is payable in cash contains a payment at closing
as well as deferred payments. Radionomy is expected to generate
approximately €29 million to €30 million gross revenue in 2022.
Radionomy brings together the entire activity of
Targetspot with its subsidiaries. The transaction thus involves the
indirect disposal of all the subsidiaries of Radionomy Group B.V.,
the Targetspot and Shoutcast brands and all staff attached to the
business.
- ENDS -
About Azerion
Azerion is a high-growth digital entertainment and
media platform. We entertain people through highly engaging content
and we help advertisers reach any audience, at any scale, anywhere
in the world in an easy way at a competitive price and in a
highquality, curated content environment. Azerion’s integrated
platform provides technology solutions to automate the purchase and
sale of digital advertising for media buyers and sellers, supported
by in-market sales and campaign management teams. Through our
technology, content creators, digital publishers and advertisers
work with Azerion to reach the hundreds of millions of people
across the globe that play Azerion’s games and view its distributed
entertainment content to increase engagement, loyalty, and drive
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.
About Targetspot
Targetspot has been a leader and pioneer in digital
audio since 2007. Targetspot connects brands to their target
audiences via an inventory of leading publishers across all areas
of digital audio. Through 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, its Shoutcast brand enabling over 85,000 radio
stations to be streamed online. Targetspot is operational in 9
countries and employs around 100 people worldwide.
Contact Investor Relations ir@azerion.com
Media press@azerion.com
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