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Audioboom ( (GB:BOOM) ) just unveiled an announcement.
Audioboom has announced the acquisition of Adelicious Ltd, a UK-focused podcast network, for up to £10 million, aiming to create the second-largest podcast network in the UK. This acquisition is part of Audioboom’s strategy to consolidate the fragmented podcast market and enhance its market share, with the transaction expected to be immediately accretive to earnings. The acquisition will be partially financed through a £3 million placing of new shares. This move positions Audioboom to leverage its platform for growth and operational leverage, enhancing its capabilities in ad tech, AI, and monetization.
More about Audioboom
Audioboom is a leading global podcast company that operates a dynamic platform connecting content, audience, and advertisers on a large scale. It generates over 35 million unique monthly listeners and hosts a network of more than 8,000 independent creators. The company is a significant player in the podcast industry, ranking as the 5th largest podcast network in the US, and focuses on expanding its presence in the fragmented US and UK markets.
Average Trading Volume: 82,179
Technical Sentiment Signal: Sell
Current Market Cap: £47.67M
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