PARIS, FRANCE: Targetspot SA introduced the sale of its digital audio enterprise (Targetspot Division), housed inside its subsidiary Radionomy Group B.V., to Azerion.
Azerion is an worldwide group listed on Euronext Amsterdam that operates through a high-growth digital leisure and media platform.
This operation will allow the three shareholders of Radionomy Group B.V. (Targetspot holding 98.5% of the capital of Radionomy Group B.V. and two minority shareholders holding the remaining 1.5%) to receive: a complete money payment of €7.5m paid in three tranches of €2.5m each, at closing, at 30 April 2023 and at 31 January 2024; and a payment in Azerion shares of €19,1m (i.e. 2 782 644 Azerion shares). Besides, Targetspot SA (and the opposite two minority shareholders) will even be eligible to obtain an earn-out in april 2024 for a most €3m, payable in Azerion shares.
The Targetspot Division, the object of the sale, monetises digital audio throughout all available channels, together with webradios, music streaming, podcasts, audio books, video platforms and mobile games. It accounted for 92% of Targetspot SA Group’s total enterprise exercise in first-half 2022, i.e. income of €13.4m for EBITDA of €0.5m.
With the acquisition, Azerion will be able to combine Targetspot’s bespoke technology providing and improve its promoting offering. By adapting targeting data to the necessities of campaigns and audio content, Azerion will create stronger listening experiences and thus generate higher outcomes for campaigns.
Alexandre Saboundjian, President and Founder of Targetspot SA, comments: “Our Targetspot division and Azerion complement one another perfectly: we bring a proprietary digital audio technology that was lacking from Azerion’s current Adtech platform, whereas Targetspot will profit from Azerion’s commercial strength, current in 24 countries, and its shut ties with over 575 publishers and 400,000 advertisers.
I am very proud of the popularity given to the Targetspot and Shoutcast teams, who’ve labored tirelessly over the previous few years to enrich the Audio platform and increase our worldwide market share, managing to combine digital audio and podcast promoting into the media plans of tens of thousands of brands.”
The deliberate transaction will be closed no later than the finish of December 2022, after approval by the Targetspot SA Extraordinary General Meeting (EGM), convened on 9 December 2022.
Following the sale, the Group, with a consolidated monetary position, will proceed to function inside a scope refocused on Winamp, a subsidiary that now has three brands:
- Bridger, a copyright administration platform launched in April 2022
- Jamendo, which sells the works of greater than 45,000 musicians
- Winamp, the iconic audio player.
The growth prospects and objectives for these companies will be laid out in an upcoming communication after the EGM. This message will even be an alternative to suggest a brand new name for the Group, which should be approved by an EGM of the shareholders of Targetspot SA, convened after the precise completion of the transaction.