NOTE 11. SUBSEQUENT EVENTS

On August 10, 2018, the Company’s subsidiary, Veritone One, Inc., entered into an agreement to acquire S Media Limited, doing business as Performance Bridge Media, a leading and long-standing podcast agency. This acquisition will expand the Company’s media agency offerings to include comprehensive podcast solutions. The consideration for the acquisition is $6,000, plus a contingent earn-out of up to $5,000 based on Performance Bridge Media’s revenues for calendar year 2018, of which 20% will be paid in cash and 80% will be paid in shares of the Company’s common stock. The transaction is expected to close in August 2018, subject to customary closing conditions.

On August 13, 2018, the Company entered into a definitive agreement to acquire Wazee Digital, Inc., a leading provider of cloud-native video management and licensing services. This acquisition will expand the Company’s offerings to customers in the media and entertainment market, providing them with the ability to expand revenue opportunities from their existing media assets. The consideration for the acquisition is $15,000, of which 50% will be paid in cash and 50% will be paid in shares of the Company’s common stock. The transaction is expected to close in August 2018, subject to customary closing conditions.