Tuesday, May 29, 2018

Pandora Acquires AdsWizz For Approximately $140M

Oakland-based Pandora sdaid today that it has acquired AdsWizz, a developer of digital audio advertising technology. Pandora said it paid $66.3M in cash plus 9.9 million shares of Pandora common stock for AdWizz, plus another $5M in cash based on certain milestones. The deal is worth approximately $140M, based on Pandora's closing price on Tuesday. AdsWizz, led by CEO Alexis van de Wyer, will continue to operate as a standalone subsidiary of Pandora. AdsWizz was based in San Mateo.