Libsyn Agrees To Acquire AdvertiseCast

To Be Acquired By Libsyn

LIBERATED SYNDICATION INC. has agreed to acquire podcast advertising company ADVERTISECAST, LLC for up tp $30 million ($18 million cash, $10 million in newly issued LIBSYN shares, $2 million in an earn-out). ADVERTISECAST co-founders TREVR SMITHLIN and DAVE HANLEY will remain with the company.

In a press release, LIBSYN Pres. LAURIE SIMS said, “I am thrilled to announce this acquisition. ADVERTISECAST is a market leader in the podcast advertising space that will fit perfectly with our existing LIBSYN 5 hosting platform. Since we began in 2004, our primary objective at LIBSYN has been to enable independent podcasters by providing them with a strong set of tools to help them thrive. ADVERTISECAST expands our tool set to include a robust monetization solution that enables efficient host-read and programmatic advertising. We expect to generate meaningful revenue by offering the ADVERTISECAST solution to LIBSYN’s customers and leveraging the combined inventory to attract even more advertisers to the ADVERTISECAST platform.”

SMITHLIN and HANLEY, in a joint statement, added, “We founded ADVERTISECAST with a podcast publisher’s mindset and believe it is a perfect fit with LIBSYN’s creator-centric ethos. Given the large growth in the podcasting market, we felt this was the perfect time to join forces with LIBSYN in order to accelerate the growth of our business. As a leader in the podcast hosting space, LIBSYN has a world-class podcast hosting platform that will deliver meaningful inventory to our podcast advertisers. Advertising is still a very under-penetrated segment of the podcast market, and we believe we are strongly positioned to ride the advertising wave with LIBSYN’s support.”

LIBSYN has also obtained $25 million in funding commitments in a private equity placement, with existing shareholder CAMAC PARTNERS, LLC and new shareholder HUDSON EXECUTIVE CAPITAL LP leading the funding.

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