Internet hosting provider Liberated Syndication Inc. (Liberated Syndication
) has acquired web host pair Networks, Inc. (pair Networks). Liberated Syndication, which is based in Pittsburgh, Pennsylvania, United States, specializes in providing web hosting for podcasting. Established in 2004, the company “delivered over 4.59 billion downloads” in 2016 and hosts “over 3.2 million media files for more than 35,000 podcasts”. The cost of its acquisition of Pair Networks was reported to be in the region of $13.5 million in a cash transaction with shares issued at value of $2.5 million.
Pair Networks has global headquarters in Pittsburgh, Pennsylvania, United States. Established in 1996, the company offers a broad range of hosting offerings including traditional web site hosting alongside dedicated server hosting, Virtual Private Server (VPS) and cloud hosting, and WordPress hosting. The company also offers domain name registration. Liberated Syndication borrowed $10 million from the newly established ‘Senior Secured Credit Facility’ at the First Commonwealth Bank to facilitate the deal. Pair Networks will be fully absorbed by Liberated Syndication.
"Podcasts are expected to continue to grow in popularity and have become an integral part of brand strategy along with websites, blogs, and social media outlets,” explained the President of Liberated Syndication, Laurie Sims. “Pair's hosting, domain and WordPress offerings are the tools podcast producers look for to develop online strategies to extend their reach. Libsyn is often seen as a media company because of the type of content we host, but we are fundamentally a hosting platform. We have a lot of synergy with Pair and understand the monthly subscription business model. We are thrilled to add the Pair team, its reliable infrastructure, and world-class support they provide."Do you know of any other companies that have been involved in acquisitions? Let us know the details. Add your comments below.