MUNICH, Germany (CelebrityAccess MediaWire) — German ticketing giant and Live Nation partner CTS Eventim has acquired a majority stake in Finnish ticketing provider Lippupiste OY.
Founded in 2002, Lippupiste is one of two dominant ticketing companies in Finalnd, having sold more than 3 million tickets in 2007. They number more than 400 promoters, theatres and concert halls along with numerous sports organizations among their clients, including Finish sport clubs and associations are among Lippupiste's customers, including various ice hockey teams, the leading soccer club HJK Helsinki and the national associations for basketball, handball and volleyball.
CTS Eventim has been making moves in the Scandinavian region, having enterted the Swedish market earlier this year with new offices in Stockholm. The acquisition of Lippupiste also puts CTS Eventim in an excellent position for further expansion into the Baltic states of Estonia, Latvia and
Lithuania and the company appears to be gearing up to compete head-to-head with Ticketmaster, which also has a major presence in the region.
The deal is expected to close by the end of September with CTS looking to acquire the remaining stake in the company by 2012. They will start distributing tickets in the market by 2009. – CelebrityAccess Staff Writers