MILAN, Italy (CelebrityAccess) — German ticketing and promoter giant CTS Eventim announced that they have acquired a controlling interest Vertigo, the Italian promoter of concerts and events.
Eventim says the acquisition is part of their plan to broaden its international scope and now has a presence in Italy with its Live Entertainment segment. The company already owns Ticketone, one of the leading ticketing providers in that country and has operations in Germany, Austria, Switzerland, Denmark, Sweden, Finland and the Netherlands.
Vertigo was established by two brothers, Andrea and Stefano Pieroni, both veteran industry professionals including previous stints as managers at Live Nation Italy. Andrea Pieroni has promoted shows such as Iron Maiden, Metallica, and David Gilmour. He also invented the world famous "Gods of Metal" festival, the main Italian rock/metal event which was exclusively booked and promoted by Andrea Pieroni from its inception in 1997 to the final edition in 2016.
Andrea and Stefano Pieroni will continue to manage Vertigo from Milan. CTS Eventim's stake in the company provide them with two seats on the Vertigo Management Board and will fully consolidate the company within its Medusa Music Group.
"Italy is already one of the most important markets for our company. So entering the Live Entertainment segment there is a logical step in our ongoing internationalization. I am all the more delighted by the fact that, by acquiring the stake in Vertigo, we are also taking on board a highly creative, fast-growing and superbly managed promoter," said CTS Eventim CEO Klaus-Peter Schulenberg.