AudioBoom reverses into Triton Digital
Written by Mark Evans
UK podcasting company AudioBoom is seeking a reverse takeover of larger US rival Triton Digital.
The £134m deal will allow Audioboom access to the US in the growing audio advertising space, and if the deal takes place the US management of Triton will take over the running of the combined group.
The Aim-listed group was originally an audio YouTube, but the company evolved into a professional platform. The organisation will now seek to raise funds from a share issue in order to fund the acquisition.
The fit with Triton is potentially good, with the US company possessing technology for measuring audience engagement – a major asset in gaining radio advertising accounts. Audioboom itself has had success in the UK with subscription-based podcasts.