U.S.-based broadcasting company The E.W. Scripps Co. has paid $150 million for digital audio technology and advertising company Triton Digital, Inc. to private equity firm Vector Capital.

In accordance with the acquisition, Triton will further cement its market leadership position as one of the top technology providers to the rapidly growing digital audio marketplace.

Vector Capital revealed that this investment enhances its approach of closely partnering with strong management teams and evolve its businesses.

New York-based investment firm Moelis & Company LLC acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Triton Digital and Vector Capital on the deal.