Triton Digital, an ad tech firm in the digital audio industry, has been acquired by Vector Capital, a tech-focused private equity firm.
Terms of the deal were not disclosed.
In early 2013, Triton Digital launched what it claimed to be the first programmatic ad exchange for the streaming audio industry. The company has since become a leader in the programmatic audio space. Over the past two years, Triton has partnered with the likes of CBS Radio and Univision Radio for supply, trading desks such as Varick Media and Accordant Media, and data management platforms (DMPs) including Lotame for data.
According to a release, Triton’s position in the audio landscape won’t change post-acquisition. Alex Kleiner, a VP at Vector, said in a statement that Vector intends to invest in Triton’s products and services.
Alex Beregovsky, a managing director at Vector, added in the statement that the company will “invest in product development to support the significant long-term opportunities in the digital audio marketplace.”
“This partnership will allow Triton to accelerate our growth through investments into our products, customers, and partners,” stated Neal Schore, president and CEO of Triton.