Comprehensive M&A data with integrated detailed company information

Audiboom plans reverse takeover of Triton Digital
Posted on Tuesday, 13 February 2018 10:45
British online digital on-demand streaming audio platform operator Audioboom has made a proposal to buy the parent of US-based software-as-a-service provider Triton Digital for USD 185.00 million in cash.

It will fund the intended purchase, which will constitute a reverse takeover, through the placing of GBP 155.00 million-worth of stock.

If it goes ahead, the transaction will be subject to shareholder approval and Audioboom will change its name to Triton Digital Group.

Audioboom describes itself as "the leading spoken word audio on-demand platform", and claims to make content more "accessible, wide-reaching and profitable for podcasters, advertisers and brands".

For the six months ending 31st May 2017, the company reported a GBP 2.91 million loss and revenue totalling GBP 1.84 million.

Its platform, which receives more than 60.00 million listeners each month, hosts nearly 12,500 content channels, including popular series Untold: the Daniel Morgan Murder, Undisclosed, the Russell Brand Podcast, and No Such Thing as a Fish.

The suitor's shares have been suspended from trading on London's AIM Market following the announcement.

According to Audioboom, the deal will "combine leading audio infrastructure, metrics and ad-serving companies that service the expanding global live and on-demand publisher base".

Triton Digital develops and provides software and platforms for the digital audio and podcast industry that allow users to monetise content, measure and build their audiences, and simplify tasks.

It is wholly owned by Triton Digital Canada.

On a generally accepted accounting principles basis, the firm posted earnings before interest, taxes, depreciation and amortisation of USD 10.50 million and turnover of USD 29.80 million for the nine months ending 30th September 2017.

Based on annual advertising, the US radio broadcaster market is worth USD 17.50 billion, according to the Radio Advertising Bureau's March 2016 report.

Podcasting is a big part of this industry and has rocketed in popularity in the last ten years; an Edison Research and Triton Digital study showed that the percentage of Americans who had heard of it has risen from 22.0 per cent in 2006 to 60.0 per cent in 2016.

© Zephus Ltd