Ad management software provider WideOrbit, as part of its effort to expand its digital offerings to major media companies, said it has acquired Abacast, a provider of streaming, live and on demand as insertion and monetization software for digital radio.
Founded in 2000, Abacast's core product -- Clarity -- is a cloud-based solution that enables online radio streaming for terrestrial broadcasters and podcasters. It is currently used by more than 1,500 online radio stations and hundreds of podcasts.
Abacast products will be integrated with WideOrbit's offerings, including the recently acquired Fivia AdFront and WO Traffic – Internet Orders. Fivia AdFront manages digital ad sales, inventory, orders and billing for major media companies that span TV, radio, digital print, cable networks and Internet service providers. WO Traffic – Internet Orders is an ad management solution for major broadcast companies that allows spot and digital to be managed together in the same system, from order entry through to invoicing. These two frontend digital ad management solutions will incorporate Abacast’s digital streaming and monetization platform to provide a comprehensive, single-vendor, non-linear solution for WideOrbit’s media clients, allowing them to effectively and profitably manage advertising across all media platforms.
“The Abacast team is excited to be joining WideOrbit,” said Abacast CEO Rob Green in a statement. “WideOrbit is a recognized leader in the media industry with extraordinary vision and a proven record of providing superior solutions to their customers. With WideOrbit’s active initiative to provide major media clients with an end-to-end solution for managing digital ad operations, we are pleased that our employees and our synergistic technologies will play a key role in seeing the plan through to fruition. Additionally, Abacast will enhance WideOrbit’s extensive knowledgebase to ensure that we continue to provide innovative solutions and a superior level of support to our current customers."
Digital ad revenue is on the rise -- in February, Borrell Associates predicted a 22% increase in digital ad revenue in radio by the end of 2014.
“We are keenly aware of the opportunities that our clients have to participate in the growth of digital ad sales,” said WideOrbit EVP of Engineering Will Offeman in a statement. “We are committed to providing solutions that not only support these revenue opportunities but allow our clients to capitalize and grow non-linear revenue streams. From the initial proposal of business, through delivery, invoicing and superior analytics, we are now providing the premier, integrated end-to-end solution in the market. The addition of Abacast solidifies our position in the radio market.”
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