Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Audioboom to be subsumed into Triton Digital in reverse takeover

Neal Schore and Mark Rosenbaum, respectively the president & chief executive officer and the executive vice president & chief financial officer of Triton, will take on the same roles at the merged group
Triton's offering represents a broad suite of audio technology services and tools that support over-the-air, online and on-demand audio publishers

Spoken word audio platform operator Audioboom Group PLC (LON:BOOM) is to acquire Triton Digital, a technology provider to the online audio industry for US$185mln (£134mln).  

In order to fund the acquisition, which is being settled in cash, Audioboom proposes to raise roughly £155mln through a placing of shares.

READ: Audioboom share issue set to provide £4mln cash infusion

If the acquisition goes through, the company proposes to change its name to Triton Digital Group PLC, with Neal Schore and Mark Rosenbaum, respectively the president & chief executive officer and the executive vice president & chief financial officer of Triton, taking on the same roles at the merged group. Audioboom’s current chief executive officer, Robert Proctor, will remain on the board as an executive director.

As the acquisition constitutes a reverse takeover under AIM rules, trading in the shares of Audioboom has been suspended.

Triton's software-as-a-service (SaaS) based offering includes three main product lines: audience measurement; streaming platform and services; and audience engagement.

US market

Triton has a strong penetration in the US radio broadcaster market and according to a report published by the Radio Advertising Bureau on 3 March 2016, represents a market worth in the region of US$17.5bn based on annual advertising.

In 2016, Triton’s turnover was around US$40.9mln while underlying earnings (EBTIDA) on a generally accepted accounting principles (GAAP) basis was roughly US$9mln, excluding one-off items.

In the first nine months of 2017, Triton’s turnover was in the region of US$29.9mln and its GAAP EBITDA was around US$10.5mln, excluding one-off items. 

View full BOOM profile View Profile

Audioboom Timeline

Conf. video
February 10 2016

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use