Santa Barbara-based Lenco Mobile Inc. has signed a definitive agreement to acquire Jetcast, provider of monetization solutions for Internet radio and television broadcasters. In August, Jetcast’s ReplaceAds Internet radio and television ad network, was ranked number one by comScore in the “Entertainment-Radio” category, with potential reach of 40.7 million unique visitors in the US. Pandora, CBS Radio, AOL Radio, Yahoo Radio, Westwood One and Clear Channel are also included in the “Entertainment-Radio” category.
Announcing the acquisition, Michael Levinsohn, CEO and President of Lenco said, “Over the last eight months, we have been building the RadioLoyalty platform with Jetcast. During that time 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 superior advertising solutions and better ROI.”
The acquisition is expected to close by the end of the month.
John Williams, Jetcast CEO, said the Jetcast shareholders were unanimous in their support for the transaction because they felt that Lenco Mobile will expand Jetcast’s already large and diverse group of Internet and mobile broadcasters. The close relationship with Lenco Mobile provides additional resources, products and services that Jetcast believes will grow their audience and broadcaster base.
Lenco Mobile is a global developer, owner, and operator of proprietary advertising and technical platforms primarily for the mobile and online marketing sectors. The company is headquartered in the U.S. and has operations in South Africa, South Korea, Australia, the UK and Mexico.