Audioboom raises £155m to finance tie-up swoop

Podcast-host Audioboom plans to tap investors for around £155 million as it lines up a reverse takeover of technology rival Triton Digital Canada.

Shares in the ondemand audio specialist were suspended yesterday following news of the $185m (£134m) tie-up. The move would be funded by a share placing, with the enlarged firm to be named Triton Digital Group.

Triton Digital, which has six offices worldwide, offers audio services such as streaming platforms, audience measurement and engagement.

Audioboom also issued a trading update, noting that during the first two months of the first quarter of its financial year revenues and trading performance have been ahead of management’s expectations.

The total available ad impressions for the first two months were 422 million, compared with 304 million for the whole of the first quarter in 2017.

Total content channels were also up, the firm added, at 12,495, against the 12,426 reported at the end of November.