Summ’it aims to connect audiences through audio storytelling
Targetspot SA has announced the sale of its digital audio business — Targetspot Division — housed within its subsidiary Radionomy Group B.V. to Azerion, an international group listed on Euronext Amsterdam that operates through a high-growth digital entertainment and media platform. Targetspot holds 98.5% of the capital of Radionomy Group B.V.; two minority shareholders own the remaining 1.5%.
The Targetspot Division monetizes digital audio across all available channels, including web radio, music streaming, podcasts, audiobooks, video platforms and mobile games. It accounted for 92% of Targetspot SA Group’s total business activity in the first half of 2022.
With the acquisition, Azerion will be able to integrate Targetspot’s bespoke technology offering and enhance its advertising offering. By adapting targeting data to the requirements of campaigns and audio content, Azerion says it will create stronger listening experiences and thus generate better campaign results.
Alexandre Saboundjian, president and founder of Targetspot SA, said, “Our Targetspot Division and Azerion complement each other perfectly: we bring a proprietary digital audio technology that was missing from Azerion’s current Adtech platform, while Targetspot will benefit from Azerion’s commercial strength, present in 24 countries, and its close ties with over 575 publishers and 400,000 advertisers. I am very proud of the recognition given to the Targetspot and Shoutcast teams, who have worked tirelessly over the past few years to enrich the audio platform and increase our international market share, managing to integrate digital audio and podcast advertising into the media plans of tens of thousands of brands.”
Targetspot SA expects the planned transaction to close no later than the end of December 2022, after approval by an extraordinary general meeting convened on Dec. 9, 2022. Following the sale, the Group will refocus on Winamp, a subsidiary with three brands — Bridger, a copyright management platform launched in April 2022; Jamendo, which sells the works of more than 45,000 musicians; and Winamp, the Group’s iconic audio player.
