WideOrbit Acquires Abacast
The following Press Release was issued by Wide Orbit on June 9, 2014:
Acquisition of Digital Radio Streaming and Monetization Provider Expands WideOrbit’s Digital Offering for Terrestrial Broadcasters, Pure Play Broadcasters and Podcasters
San Francisco, CA (PRWEB) June 09, 2014 WideOrbit Inc., the leading provider of advertising management software for media companies, is pleased to announce that it has acquired Abacast, a leading provider of streaming, live and on demand ad insertion and monetization solutions for digital radio. This acquisition is part of an ongoing initiative to expand WideOrbit’s digital offering for major media companies.
Abacast was founded in 2000 and offers an innovative, end-to-end monetization platform for digital audio services of all types. Clarity®, the company’s core solution, is the only complete, cloud-based digital radio solution that enables profitable online radio streaming for terrestrial broadcasters, pure play broadcasters, as well as podcasters. Used by over 1,500 online radio stations and hundreds of podcasts, Clarity’s centralized and comprehensive solution enables digital audio services to get more out of their digital inventory and quickly maximize their profits.
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. 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 the industry’s only ad management solution for major broadcast companies that allows spot and digital to be managed together in the same system, from order entry through to invoicing. These two frontend digital ad management solutions will incorporate Abacast’s digital streaming and monetization platform to provide a comprehensive, single-vendor, non-linear solution for WideOrbit’s media clients, allowing them to effectively and profitably manage advertising across all media platforms.
“The Abacast team is excited to be joining WideOrbit,” said Rob Green, CEO of Abacast. “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 knowledgebase to ensure that we continue to provide innovative solutions and a superior level of support to our current customers.”
WideOrbit has seen a distinct rise in the demand for its digital solutions as clients have expanded increasingly into non-linear. In February, Borrell Associates forecasted a 22% rise in digital ad revenue in radio by the end of 2014.
“We are keenly aware of the opportunities that our clients have to participate in the growth of digital ad sales,” said Will Offeman, EVP of Engineering at WideOrbit. “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.”
Eric R. Mathewson, Founder and CEO of WideOrbit added, “We are very excited to welcome the Abacast team to WideOrbit. 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.”
WideOrbit’s comprehensive product line helps major media companies manage the entire workflow of advertising sales, from placement and optimization through to invoicing. Headquartered in San Francisco, California with offices across the U.S., WideOrbit has been GAAP profitable for 14 consecutive quarters and more than 400 employees globally. WideOrbit software currently manages more than $24 Billion dollars in annual ad spending.
Abacast will operate as a fully owned subsidiary of WideOrbit. As part of the acquisition, WideOrbit will be maintaining the Abacast offices in Vancouver, Washington. Financial terms of the acquisition have not been disclosed.
WideOrbit (http://www.wideorbit.com) is the leading provider of advertising management software for Media companies. WideOrbit provides innovative, proven solutions for managing the business of broadcast and cable operations – from proposal to order, scheduling to automation, billing and aging. WideOrbit has been helping clients since 1999, delivering high ROI, greater efficiencies and revenue optimization. More than 2,600 Television stations, Radio stations and Media Networks around the globe use WideOrbit Traffic software and another 3,200+ stations operate on WideOrbit Radio Automation platforms. WideOrbit software manages more than $24 billion in advertising revenue annually. Clients include: Bell Media, Corus Entertainment, DirecTV, Entercom Communications, Fox Sports, Galavision, Gannett Co., Hearst Television, Madison Square Garden, Meredith Corporation, Midwest Communications, NBCUniversal, NHL Networks, Rogers Communications, Scripps Television Group, Tribune, Yankee Entertainment Sports, Univision and more than 300 other major media organizations. WideOrbit is headquartered in San Francisco, with offices in Vancouver, WA; Seattle; Denver; Dallas; Birmingham, AL; Agawam, MA and Paris, France.