AIM-listed podcast platform Audioboom, which is backed by Nick Candy, is seeking a reverse takeover of US company Triton for £134m.
Audioboom, which is worth around £35m, proposes to raise £155m through a share issue.
If the deal goes through the company plans to change its name to Triton Digital Group. Triton’s Neal Schore will become chief executive and Mark Rosenbaum chief executive officer.
Audioboom’s current chief executive officer, Robert Proctor, will remain on the board as an executive director.
US market access
The deal would give Audioboom access to the lucrative US radio advertising market.
In a statement Audioboom said: “the proposed enlarged group has the potential to be a leading global digital audio services provider to both live and on-demand publishers, with the scale and reach to capture a significant share of the revenues available within the global online audio industry as a whole”.