The company said on Tuesday it has entered into an agreement to acquire ad tech company Megaphone in a US$235 million deal. The companies declined to say whether the deal was in cash, stock or a mix of both, CNBC reportsMegaphone offers technology for podcast publishers and advertisers seeking targeted slots on podcasts. It offers podcast hosting, distribution and ad-insertion tools for podcast publishers like ESPN and the Wall Street Journal, and advertisers can use the company’s technology to find audiences across the podcast content of those publishers. Megaphone, previously called Panoply Media, rebranded in 2019 after laying off its podcast production team to focus on the technology platform side of its business. The deal should give advertisers more scale in terms of who they can reach on Spotify and let podcast publishers opt-in to have their shows monetized.

Source: The Standard November 10, 2020 14:22 UTC