Google has reportedly dumped its underperforming radio advertising business on to WideOrbit, a leading software provider for broadcast TV and radio industries. The move is a part of Google's efforts to reduce spending and sever ties with slacking operations.
Google announced in February that it would be exiting the radio business, after a 3-year endeavor in conventional media. The search giant also discontinued an ad selling business for news papers earlier in the year, in response to an unsatisfactory return on the investment. WideOrbit sees the acquisition as a key step in its strategy to broaden its product offering and deliver a comprehensive package to its customers.
The sale includes Google Radio Automation, Maestro, and SS32. Financial details have yet to be disclosed, but WideOrbit is expected to inherit 3,600 customers and an unrevealed number of employees.