WideOrbit Acquires Abacast
June 9, 2014 at 12:10 PM (PT)
Advertising manager software firm WIDEORBIT INC. has acquired ABACAST, a leading provider of streaming, live and on-demand ad insertion and monetization solutions for digital radio. 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.
ABACAST will operate as a fully owned subsidiary of WIDEORBIT, which will be maintaining the ABACAST offices in VANCOUVER, WA. Financial terms of the acquisition have not been disclosed.
“The ABACAST team is excited to be joining WIDEORBIT,” ABACAST CEO ROB GREEN said. “WIDEORBIT is a recognized leader in the media industry with 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 digital ad operations, we are pleased that our employees and our synergistic technologies will play a key role in seeing the plan through to fruition. Additionally, Abacast will enhance WIDEORBIT’s extensive knowledge base 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,” WIDEORBIT EVP/Engineering WILL OFFEMAN said. “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, 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," WIDEORBIT Founder/CEO ERIC R. MATHEWSON added. "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.”