Targetspot SA: Closing of the Sale of the Digital Audio Business to Azerion

BRUSSELS--(BUSINESS WIRE)--Regulatory News:

Targetspot SA (Code ALTGS) (Paris:ALTGS) (Brussels:ALTGS) announces the closing of the sale of its digital audio business (Targetspot division and Shoutcast), part of its subsidiary Radionomy Group B.V., to Azerion Tech Holding B.V. The deal was closed on 23 December 2022 after it was approved by Targetspot SA’s shareholders at their Extraordinary General Meeting on 9 December. An updated summary of the terms and conditions of the transaction is available on the Targetspot SA website at investors.targetspot.com.

The Targetspot division, an AdTech specialised in monetising digital audio, generated revenue of €13.4 million in the first half of 2022, with EBITDA of €0.5 million.

The sale of this activity is an important step forward for Targetspot SA, which will announce its growth prospects and ambitions for its new scope, focused on the subsidiary Winamp, in January 2023.

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About Targetspot
Targetspot, an AdTech group company listed on the Brussels and Paris stock exchanges, has been a leader and pioneer in digital audio since 2007. Targetspot connects brands to their target audiences via an inventory of leading publishers across all areas of digital audio. Through its proprietary technologies, Targetspot provides end-to-end integration between advertisers and publishers, for contextually targeted, cookie-free campaigns involving both direct and programmatic buying. Targetspot is also a leader in audio streaming, its Shoutcast brand enabling over 85,000 radio stations to be streamed online. Targetspot is operational in 9 countries and employs around 100 people worldwide.