Tuesday, February 13, 2018

Triton Digital Plans Merger With AudioBoom

Triton Digital has announced a planned merger with UK-based podcast network and technology provider audioBoom, in which Triton Digital will combine with AudioBoom Group PLC, the corporate structure by which the British podcast platform company is traded on the London Stock Exchange.

Upon completion of the deal, the combined company will operate under the name Triton Digital Group PLC, with an integrated team, brand, and product offering.

According to RAIN News, the Triton Digital executive team will move unaltered into leadership of Triton Digital Group, with roles and titles unchanged:

•    President and CEO: Neal Schore
•    President, Market Development: John Rosso
•    Executive VP and CFO: Mark Rosenbaum
•    SVP, Product and Technology: Alex Fournier
•    EVP, Human Resources: Micheline Sebbag

In addition, Rob Proctor, current CEO of audioBoom, will join the Triton Digital Group executive team as Managing Director of the audioBoom business unit.

For Triton Digital, this merger marks the second significant capital event in three years. The company was acquired in March of 2015 by private equity firm Vector Capital. (Triton’s parent company before that was Oaktree Capital Management.) At that time, Neal Schore lauded Vector’s “strategic contribution and financial resources.” Schore continued to praise Vector when discussing the audioBoom merger, saying “We have truly enjoyed and appreciate our relationship with Vector Capital. They are fantastic and supportive partners.”

Neal Schore noted that Triton has historically been acquisitive over its 12-year history, although it has been quiet in recent years. “We are planning to go back to our roots of proactive M&A activity,” Schore told us, “with a focus on our core technology competencies. We will continue to invest heavily in both on-demand and podcasting, in addition to expanding our podcast and streaming audio analytics business, infrastructure for streaming audio, advertising tools, and more.”

The transaction is expected to close in late March or early April.

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