Internet hosting company Liberated Syndication, better known as LibSyn, has acquired web hosting provider Pair Networks in a USD 13.5 million cash and USD 2.5 million shares deal. With this acquisition, LibSyn plan to capitalize on Pair’s computing infrastructure and cloud hosting services in a bid to explore cross-selling and upselling opportunities in the podcasting industry.
According to LibSyn, the podcast industry is sitting on an interesting growth curve and there lies a huge potential in making the most of it with Pair’s web hosting expertise. Explaining this in detail, Laurie Sims, President at LibSyn said:
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. Pair’s hosting, domain and WordPress offerings are the tools podcast producers look for to develop online strategies to extend their reach.
LibSyn say that though they have been more focused towards the media and podcast industry, they are essentially a web hosting company that understands how the business works across all industries. Emphasizing this, Sims further added:
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.
LibSyn further stated that apart from the podcast industry, they also aspire to enter the cyber security segment given the rise in that sector. It will be interesting to witness LibSyn’s growth trajectory after this acquisition.