Audacy Inc. said it has acquired “an exclusive, perpetual license” to WideOrbit’s digital audio streaming technology and the related assets and operations of WO Streaming.
It will operate the business under the name Amperwave.
“This acquisition gives Audacy control of its product roadmap to deliver enhanced consumer-facing streaming features for its 170 million monthly listeners,” the media company stated in the announcement, which was made by Chairman/President/CEO David Field.
WO Streaming is a cloud-based distribution and monetization platform for live and on-demand audio streams. Field said the acquisition is a complement to Audacy’s existing investments in digital audio.
In this deal, Audacy is purchasing technology and the assets and operations of WO Streaming, which is a separate business unit within WideOrbit. WO has other products including radio automation, traffic, business intelligence and sales services that are not involved in this transaction.
Audacy will operate WO Streaming under the name AmperWave.
“The entire WO Streaming team, led by John Morris, SVP Streaming, has joined Audacy,” it stated. A spokesperson declined to say how many people that entails.