Pandora Invests In Ad Tech
Pandora announced this morning it’s acquiring digital audio ad technology firm AdsWizz for $145 million, as a combination of at least 50 percent cash, with the remaining paid in either cash or stock at Pandora’s discretion. The company, whose technology will be used to upgrade Pandora’s own ad tech capabilities, will continue as a subsidiary headed by CEO Alexis van de Wyer.
AdsWizz offers an end-to-end technology platform that powers music platforms, podcasts and broadcasting groups. Customers include Cox Media Group, iHeartRadio, TuneIn, Entercom, Omnicom Media Group, Spotify, Deezer, PodcastOne, GroupM, and others.
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