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UK podcaster Audioboom plans £134m reverse takeover as it targets US market

“Fast-growing British podcast platform Audioboom is planning a merger with rival Triton Digital in the hope of grabbing a bigger slice of the burgeoning US market” writes Jack Torrance for Audioboom hosts podcasts online and allows its users to distribute them via services such as Apple Podcasts and Spotify and make money from its network of advertisers.Shares in the AIM-listed firm, whose market cap stands at around £35m, were suspended as its revealed plans to raise around £155m from a share placing, most of which will be used to fund the $185m (£134m) reverse takeover. Audioboom’s board said there were “natural synergies” with Triton, which offers similar services, and pointed to Triton’s “strong penetration” of the booming US market, where 67 million people listen to a podcast each month.

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