BERLIN (CelebrityAccess MediaWire) — European ticket giant CTS Eventim has acquired another major ticket provider, expanding its reach across the continent even further. On Monday, the company purchased Milan-based Italian market leader TicketOne S.p.A, for approximately EUR 14 million.
Founded in 1998, TicketOne sold more than 13 million tickets in 2006, and also successfully handled ticket sales for the Winter Olympics in Turn.
“TicketOne has an exceptional market position in Italy and is as popular there as CTS Eventim is in Germany,” said Eventim CEO Klaus-Peter Schulenberg, in a statement. “We will be able to significantly increase TicketOne’s operating figures within a relatively short period of time.”
TicketOne also holds a 60% share of TOST, a ticket distribution agency for theaters, and a 100% stake in Panischi, a distribution rights agency for numerous major event promoters in Italy. In 2006, TicketOne Group generated revenues of EUR 16.4 million with EBITDA at more than EUR 2.2 million.
Over the past few months, CTS Eventim has completed acquisitions in Russia and Switzerland, and is reportedly eyeing companies in Turkey and Spain. –by CelebrityAccess Staff Writers