Pandora To Acquire AdsWizz - Quick Facts

(RTTNews) - Pandora (P) announced it will acquire AdsWizz, the global leader in digital audio ad technology. The addition of AdsWizz will upgrade Pandora's ad tech capabilities. AdsWizz will become a subsidiary of Pandora, with van de Wyer remaining the CEO of AdsWizz. Once fully integrated, advertisers will be able to transact through AdsWizz's global marketplace across Pandora and other leading audio publishers.

Pandora agreed to pay $145 million in a combination of cash and stock, with a minimum of 50 percent paid in cash and the remainder to be paid, at Pandora's election, in either cash or stock. AdsWizz is headquartered in San Mateo, California, with a presence in 39 countries around the world.

The company said the acquisition does not change its first-quarter guidance.