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Business News Deals Live Business
CTS Eventim buy German bit of See Tickets
By CMU Editorial | Published on Wednesday 7 July 2010
German ticketing giant CTS Eventim – the company who most vocally opposed the merger of Live Nation and Ticketmaster during the UK Competition Commission’s investigation of that deal – has acquired the German division of See Tickets, which owns various businesses operating under the Ticket Online brand.
See Tickets Germany was owned by the See Tickets International company, which is in turn owned by private equity types Parcom and Dutch live entertainment group Stage Entertainment. The same deal also includes a twelve year exclusive ticketing relationship in Germany between CTS Eventim and Stage Entertainment, who produce mainly musical shows and theatrical extravaganzas.
Confirming the deal, CTS Eventim’s CFO, Volker Bischoff, told Billboard: “In addition to further enhancing our market leader position and securing an attractive programme of events, this acquisition provides us with substantial synergies [and savings], currently estimated at more than €15 million per annum, primarily as a result of scale effects in ticketing operations. By making this acquisition, we have also secured exclusive ticketing access to the musical productions of Stage Entertainment, which has produced worldwide successes such as ‘The Lion King,’ ‘Mamma Mia,’ ‘Tarzan’ and ‘Holiday On Ice'”.
