Closed Deal: WideOrbit Acquires Google Radio Assets
Wednesday, August 5, 2009; 3:17 AM
Google Radio, the Internet search and advertising giant's online radio ad buying service, has been sold to online ad and media management software firm WideOrbit for an undisclosed sum. The acquisition was first reported by PaidContent back in July before the deal was closed, but rumors of a possible sale were circulating since February this year.
As expected, WideOrbit is taking over several assets of Google's radio business, namely Google Radio Automation, Maestro and SS32 automation products. The company, which is backed by at least $34.5 million in venture capital, commented on the closing of the deal saying that it was looking to expand its product portfolio and taking over Google Radio's assets was a key step in that process. In the released statement, the company added that 3,600 customers were currently using Google Radio Automation.
WideOrbit, founded in 1999, claims to help manage over $12 billion in online advertising from about 1300 cable networks, TV and radio stations, as well as managing advertising for movie theaters, mobile devices, and digital display networks. It boasts clients such as NBC, Telemundo, Hearst Television, and Gannett, among others.