WEST HOLLYWOOD, CA and IRVINE, CA (CelebrityAccess MediaWire) — Ticketmaster has entered into a definitive agreement to acquire all of the outstanding equity of ticketing services and software provider Paciolan. Based in Irvine, CA, Paciolan provides ticketing, fundraising and marketing technology solutions for 190 clients in North America, including a range of college athletics programs, performing arts organizations, arenas, professional sports teams and museums.
The acquisition will enable Ticketmaster to compete more effectively in the highly dynamic live event business by providing the company with more people, technologies and approaches to serve the industry. Upon closing, Ticketmaster plans to augment Paciolan's existing product and service offerings with proprietary features such as TicketFast online ticket delivery, Ticket Auctions, TicketExchange and VIP packages. Ultimately, the transaction will ensure that clients receive the best products and services possible, and that fans receive convenient and easy access to tickets and event information.
"Over the past 27 years, Paciolan has established itself as a successful ticketing solution for live events, especially in the segments of college athletics and the arts," said Sean Moriarty, president and CEO, Ticketmaster. "This transaction is about giving clients full access to the wide spectrum of solutions and services that both companies offer. Dave Butler and his team are true professionals who are dedicated to providing the best service possible to their clients. We are thrilled to have the opportunity to welcome this talented team to the Ticketmaster family."
"Our decision to join Ticketmaster reflects our deep commitment to providing our customers with what they want and how they want it," said Dave Butler, CEO, Paciolan. "That commitment grows even stronger with this announcement, as we will have access to even greater resources, talent and assets."
Upon completion of the transaction, Paciolan will continue to operate from its Irvine location and will retain David Butler and the company's current management team.
Paciolan's primary selling shareholders are an established group of venture capitalists including Technology Crossover Ventures, Argentum Capital Partners and Marwit Capital Company, as well as strategic investor Comcast Spectacor. The Agreement is subject to customary closing conditions, including obtaining regulatory approval.
Bob Grossweiner and Jane Cohen
