SAN FRANCISCO—WideOrbit announceed that it has acquired Abacast, a provider of streaming, live and on demand ad insertion for digital radio. This acquisition is part of an ongoing initiative to expand WideOrbit’s digital offering for major media companies. Financial terms were not disclosed.
Abacast was founded in 2000 and offers an end-to-end monetization platform for digital audio services of all types. Clarity, the company’s core technology, is a cloud-based digital radio platform that enables online radio streaming for terrestrial broadcasters, pure-play broadcasters, as well as podcasters. Clarity is said to be used by more than 1,500 online radio stations and hundreds of podcasts.
The Abacast technology will be part of an expanded WideOrbit digital product line that currently includes the recently acquired Fivia AdFront solution and WO Traffic—Internet Orders. Fivia AdFront is a comprehensive solution for managing digital ad sales, inventory, orders and billing for major media companies that span TV, radio, digital print and cable networks, and Internet service providers. WO Traffic—Internet Orders is an ad management platform designed for major broadcast companies. It allows spot and digital to be managed together in the same system, from order entry through to invoicing. These two front-end digital ad management solutions will incorporate Abacast’s digital streaming and monetization platform to provide a comprehensive, single-vendor, nonlinear solution for WideOrbit’s media clients, allowing them to manage advertising across all media platforms.
WideOrbit software currently manages more than $24 billion dollars in annual ad spending The company says it has been GAAP profitable for 14 consecutive quarters and has more than 400 employees globally.
Abacast will operate as a fully owned subsidiary of WideOrbit. As part of the acquisition, WideOrbit will be maintaining the Abacast offices in Vancouver, Wash.
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