AI-based audio platform Auddia announced it has approved a merger with Thramann Holdings. The transaction is expected to close in the second quarter of this year.
Upon closing, Auddia will be renamed McCarthy Finney.
Auddia describes itself as an AI platform for audio identification and classification and related technologies, “reinventing how consumers engage with AM/FM radio, podcasts and other audio content.”
The platform will become a fully owned subsidiary alongside three Thramann Holdings entities. Jeff Thramann will remain CEO of the combined company and John Mahoney will remain CFO.
Thramann Holdings is privately held and controls LT350, Influence Healthcare and Voyex, three early stage companies using AI and founded by Thramann. He is an entrepreneur and inventor named on approximately 130 U.S. and international patents.
Thramann said in a release that he feels there is an opportunity for a company at the intersection of AI and Web3 to harness the technology to build “significant value across numerous verticals.”
Management estimates the base case valuation of McCarthy Finney at $250 million, based on a discounted cash flow analysis.
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