AudioEye., a leader in digital accessibility, has acquired ADA Site Compliance, a solution that helps organizations ensure website accessibility in line with ADA and WCAG standards. This strategic acquisition is expected to expand AudioEye’s offerings and strengthen its position in the digital accessibility space.
- Strategic Acquisition Overview:
- AudioEye acquires ADA Site Compliance to enhance its accessibility solutions.
- ADA Site Compliance brings expertise in website audits and WCAG compliance best practices.
- Acquisition will strengthen AudioEye’s services by integrating both AI automation and human-assisted technology.
- CEO Insights:
- David Moradi, CEO of AudioEye, highlights the synergy with ADA Site Compliance’s talented team.
- Reflects on the success of AudioEye’s 2022 acquisition of the Bureau of Internet Accessibility.
- AudioEye plans to replicate the deepened customer relationships and growth seen post-acquisition.
- Client-Centric Focus:
- Scott Trachtenberg, Founder and CEO of ADA Site Compliance, expressed confidence in AudioEye’s platform.
- Emphasizes AudioEye’s unique AI-driven approach for solving digital accessibility at scale.
- Scott will continue working closely with AudioEye’s leadership to drive customer success.
- Financial Outlook:
- Based on strong performance, AudioEye raises Q3 2024 revenue guidance to $8.9 – $8.95 million.
- Full-year 2024 revenue expected between $35.15 – $35.25 million, with adjusted EBITDA at $6.3 – $6.45 million.
- Acquisition of ADA Site Compliance is expected to contribute positively in Q4 2024.
- Management targets “Rule of 40” for Q3 2024, reflecting strong revenue growth.
- Future Growth Prospects:
- AudioEye anticipates future tuck-in acquisitions to further strengthen its digital accessibility platform.
- Focused on unlocking long-term value through strategic partnerships and acquisitions.
AudioEye’s acquisition of ADA Site Compliance positions the company to deliver enhanced website accessibility services. By combining AI automation with human-assisted technology, AudioEye ensures scalable and effective digital accessibility solutions. This acquisition, alongside strong financial growth, reflects AudioEye’s commitment to expanding its industry leadership.
