Biggest music streaming service in U.S. pays USD 145 mln for technology made in Romania

Pandora, the largest music streaming service in the U.S., announced it will acquire AdsWizz, the global leader in digital audio ad technology, in a transaction worth USD 145 million. AdsWizz is headquartered in San Mateo, California, but about two-thirds of its 150-people team is based in Bucharest, where the company has its main engineering center, according to company representatives. This transaction will allow AdsWizz to expand the team at its engineering center in Romania by about 50%. The company is looking for Java developers, Big Data analysts, QA Automation Developers, Operation Engineers and DevOps. AdsWizz is one of the few ad tech firms that is completely dedicated to digital audio, serving some of the largest players in the industry. The digital audio advertising is one of the most dynamic segments of the digital advertising market, with a yearly growth rate of 42%, according to the IAB. “With our scale in audio advertising and AdsWizz’s tech expertise, we will create the largest digital audio advertising ecosystem, better serving global publishers and advertisers — while improving Pandora’s own monetization capabilities,” said Roger Lynch, CEO of Pandora. “For the last ten years, our mission at AdsWizz has been to enable the global monetization of digital audio by building innovative advertising technologies for music streaming services, digital broadcasters and podcasters. We believe in providing value to all stakeholders — brands, publishers and listeners — through engaging and well-targeted advertising experiences,” said Alexis van de Wyer, the CEO of AdsWizz. AdsWizz was founded in 2008 by Belgian internet entrepreneur Philippe-Alexandre Leroux, who is also the company’s Chief Operating Officer (COO). UiPath raises USD 153 mln, becomes Romania's first tech unicorn editor@romania-insider.com