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Business News Deals Live Business
Vivendi confirm See Tickets acquisition
By CMU Editorial | Published on Wednesday 7 September 2011
Universal Music owners Vivendi have confirmed their takeover of See Tickets UK, giving them a sizable slice of the British ticketing market.
As previously reported, CTS Eventim were thought to be favourites to win the bidding for the ticketing firm, but last weekend it emerged Vivendi had done the deal with former owners Parcom Capita. It extends a move into the ticketing space for the French conglom, which began with the buying of a 65% stake in France-based Digitick last year.
In a simple statement earlier this week, Vivendi said: “We have acquired the UK ticketing company See Tickets UK for a purchase price of approximately 96 million euros (£83 million with an enterprise value of £94 million). This acquisition complements the group’s different businesses. It follows the acquisition in December 2010 of French leading on-line ticketing company Digitick”.
Elsewhere in Vivendi-related takeovers, the aforementioned Universal Music has bought Danish label and music publishing group MBO, which includes labels Copenhagen Records, A:larm and RecArt.
