WideOrbit Acquires Abacast
June 9, 2014
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WideOrbit Inc. a provider of advertising management software for media companies has announced that it has acquired Abacast, a leading provider of streaming, live and on demand ad insertion and monetization solutions for digital radio. This acquisition is part of an ongoing initiative to expand WideOrbit’s digital offering for major media companies. The Abacast solutions will be part of an expanded WideOrbit digital product line that currently includes the recently acquired Fivia AdFront solution and WO Traffic – Internet Orders.

“The Abacast team is excited to be joining WideOrbit,” said Rob Green, CEO of Abacast. “They are a recognized leader in the media industry. They have extraordinary vision and a proven record of providing superior solutions to their customers. With WideOrbit’s active initiative to provide major media clients with an end-to-end solution for managing non-linear ad operations, we are pleased that our employees and our technology will play a key role in seeing the plan through to fruition. We’re also looking forward to adding our experience to WideOrbit’s extensive knowledgebase to ensure that we continue to provide innovative solutions and a superior level of support to our current customers.”

“We are keenly aware of the opportunities that our clients have to participate in the growth of digital ad sales,” said Will Offeman, EVP of Engineering at WideOrbit. “We are committed to providing solutions that not only support these revenue opportunities but allow our clients to capitalize and grow non-linear revenue streams. From the initial proposal of business, through delivery, invoicing and superior analytics, we are now providing the premier completely integrated end-to-end solution in the market. The addition of Abacast solidifies our position in the radio market.”

“We are very excited to welcome the Abacast team to WideOrbit,” said Eric R. Mathewson, Founder and CEO of WideOrbit. ‘Abacast has a strong position in the market as a leader in streaming solutions for radio and a solid reputation for providing excellent support to its clients. Having core technology for streaming and traditional broadcast radio under one roof will provide significant advantages to our clients.”

Abacast will operate as a fully owned subsidiary of WideOrbit. As part of the acquisition, WideOrbit will be maintaining the Abacast offices in Vancouver, Washington. Financial terms of the acquisition have not been disclosed.



 
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SVPP, iHeartMedia

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