The
streaming music service Pandora has completed its acquisition of the digital audio ad tech firm AdsWizz.
The deal, which values AdsWizz at $145 million, is a combination of cash and
stock.
AdsWizz will operate as a standalone subsidiary of Pandora, providing the advertising technology for the company’s free streaming music platform, while also continuing to
provide its products and services to other firms. AdsWizz CEO Alexis van de Wyer will continue to lead the company for Pandora.
Pandora is the largest ad-supported music streaming
platform, though it also offers ad-free premium subscriptions. Pandora and competitor Spotify together dominate the free streaming music space, though Spotify is also the market leader in subscription
music services.