Wizzard Software to Acquire Libsyn
PITTSBURGH Wizzard Software (OTCBB: WIZD) agreed to acquire Libsyn, a podcasting network. Following the acquisition, Libsyn will maintain its independence and continue to grow its brand and podcasting community.
The Libsyn network broadcasts over 42 million podcast downloads per month to at least 13 million people worldwide. In 2006 alone, Libsyn has had over 360 million audio and video podcast downloads.
The acquisition combines the podcast network with Wizzard's speech technology integration, creating a new service for podcasters worldwide. The combined companies will focus on providing independent content creators with search engine indexing, transcription and blogging integration, and new tools.
Libsyn will continue to be headquartered in Pittsburgh, Pa. and all Libsyn management and employees will remain with the company. Both company's board of directors have approved this transaction, which is subject to customary closing conditions, and is scheduled to close in the fourth quarter. Terms of the deal will be disclosed in SEC filings in the near future.