Pandora Media Inc. P, +5.03% shares rose 1.4% in premarket trading Wednesday after the company announced its acquisition of ad-tech firm AdsWizz. Pandora will pay $145 million in cash and stock for the company, with a minimum of 50% of that to be paid in cash, according to the company's release. "With our scale in audio advertising and AdsWizz's tech expertise, we will create the largest digital audio advertising ecosystem, better serving global publishers and advertisers - while improving Pandora's own monetization capabilities," CEO Roger Lynch said in the release. Lynch took over the CEO role at Pandora last fall and has been trying to bulk up the company's ad technology to better compete with the titans of digital advertising. Pandora shares are down 59% over the past 12 months, compared with a 16% gain for the S&P 500 SPX, +0.07%