Lenco Mobile Inc. said it has signed an agreement to acquire Jetcast Inc., which claims it provides products that make Internet broadcasting profitable for radio and television stations and their advertisers.
Lenco Mobile owns and operates proprietary advertising and technical platforms primarily for the mobile and online marketing sectors.
Over the past eight months, Lenco has been building the RadioLoyalty platform with Jetcast. RadioLoyalty allows broadcasters to reward their audiences and listeners to earn while they listen.
During that collaboration, it became evident that “Jetcast has a unique, defensible and highly scalable business that, when coupled to our mobile and internet technology platforms, provides our carrier partners and mobile brand advertisers with better ROI,” stated Lenco Mobile President/CEO Michael Levinsohn.
Jetcast, meanwhile, likes the idea of combining as well. Jetcast CEO John Williams says joining with Lenco Mobile provides more resources, products and services that Jetcast believes will help grow its audience, broadcaster base and monetization capabilities.
In August, Jetcast’s ReplaceAds Internet radio and television advertising network was ranked number-one by comScore in the “Entertainment-Radio” category, with potential reach of 40.7 million unique visitors in the United States, according to the announcement. Pandora, CBS Radio, AOL Radio, Yahoo! Music Radio, Westwood One and Clear Channel are also included in the “Entertainment-Radio” category.
The parties expect the deal, which is subject to closing conditions, to close by the end of September. Prince and terms were not disclosed.