Yesterday we announced a deal that I have been working on for the past three months. Our portfolio company Targetspot has merged with Radionomy, the leading streaming radio company in Europe.
The combination creates the largest global audio ad network and brings Radionomy to the US. It also gives the Targestpot network an anchor tenant that will make it easier to do sophisticated targeting campaigns that require both scale and reach. Advertisers can now leverage the capabilities of a digital audio network with reach to over 75M listeners and more than 80 publishers in both the U.S. and Europe.
The streaming audio business has gone mainstream in most parts of the world and is operating at a very large scale now. The advertising opportunities in streaming audio are attractive and there is no better place to reach a large and diverse base of listners than the Targetspot network.
I always look for mergers where 1+1=more than 2. This is one of those. And I am excited to see what Radionomy and Targetspot can do together.
