EveryCarListed.com sold by Dex Media to start-up; private equity firm buys Triton Digital
Welcome to M&A Monday: some new media deals announced today.
DALLAS, Texas – March 16, 2015 –Today Dex Media, Inc. announced the sale of EveryCarListed.com (ECL) to a newly formed company EveryCarListed.com, Inc. The new entity is a Florida based LLC. The new entity is backed by a private financial firm and Tim Gamwell, a veteran of the auto dealer industry. He will serve as the new CEO. Jeff Noble will remain as president to guide the new organization from the Tyler, Texas office as new implementations and product offerings are slated for release in the coming quarters.
“We are excited to team up with a dedicated and committed staff of professionals at ECL”
“This is a great fit for the ECL brand and we know they will thrive and grow in that environment,” Joe Walsh, Dex Media’s president and CEO said. “We wish the ECL team well and expect to hear great things about them in the future.”
The sale amount was undisclosed.
“We are excited to team up with a dedicated and committed staff of professionals at ECL,” said Tim Gamwell, CEO of EveryCarListed.com, Inc. “We believe the improved portfolio of products scheduled for integration will move ECL into a leading position in the market and provide dealers with fresh new solutions for lead generation and high conversion rates.”
The transfer of ECL’s assets is effective immediately.
Jeff Noble, ECL’s president, said, “This move is a great opportunity to provide dealers the services they need to grow their business.”
LOS ANGELES & SAN FRANCISCO – March 16, 2015 –Vector Capital, a technology-focused private equity firm, today announced the acquisition of Triton Digital, the leading technology provider to the digital audio industry. Financial terms of the transaction were not disclosed.
“We are extremely excited about partnering with Vector for the next stage of our growth”
Founded in 2006, Triton Digital is a pioneer in the rapidly expanding digital audio marketplace. The Company’s innovative and proprietary software-as-a-service (“SaaS”) solutions and advertising technology enable both live and on-demand audio publishers to build their audiences and revenues globally.
“We are extremely excited about partnering with Vector for the next stage of our growth,” said Neal Schore, President and CEO, Triton Digital. “Triton was founded with the vision of transforming the digital audio marketplace by providing publishers with highly sophisticated technology solutions to drive monetization. This partnership will allow Triton to accelerate our growth through investments into our products, customers, and partners. As our marketplace and company head into the significant growth stage, we couldn’t be more excited to forge forward with Vector.”
Alex Beregovsky, a Managing Director at Vector Capital, commented, “Triton is uniquely positioned in its industry as the only technology provider offering a complete end-to-end solution for audio publishers who wish to build, measure, and monetize a digital audience. We are very excited about working with the talented group of employees at Triton Digital to further invest in product development to support the significant long-term opportunities in the digital audio marketplace.”
Throughout its history, Triton has continually innovated and paved the way for growth in the digital audio industry with its unique and highly differentiated technology solutions. The Company’s audio ad exchange, a2x™, is the industry’s first audience-based programmatic buying solution for online and mobile digital audio ads, enabling digital audio publishers and advertisers to partner dynamically in delivering the most effective solutions for engaging consumers.
Alex Kleiner, a Vice President at Vector Capital, said, “We are honored to partner with Triton and are committed to investing in the company’s growth by further strengthening and expanding its market leading product and service capabilities. We believe with strong backing from Vector, the company will continue to capitalize on the exciting trends in the digital audio market.”
Macquarie Capital served as financial advisor to Triton Digital.