Sports and live entertainment giant AEG has acquired all outstanding shares in ticketing and data solutions provider AXS, bringing its ownership stake to 100%.
AEG, which was a founding partner in the ticketing platform from its inception in 2011, acquired the outstanding shares from former partners Dan Gilbert and TPG Capital, the owner of Cirque du Soleil Entertainment Group.
AXS currently operates in North America and Europe and recently expanded into Japan, where it is a joint venture partner with Yahoo Japan Corporation and Avex Entertainment in Passrevo, the ticketing entity behind Yahoo! Tickets.
Today, AXS provides ticketing services to over 167 professional sports teams around the world, and over 300 venues.
LionTree Advisors acted as financial advisor to Cirque Du Soleil, Outbox Holdings and Flash Seats in connection with the transaction.
“As a team owner, music promoter and venue owner/operator, ticketing is core to AEG’s business and this transaction allows us to more closely align our global asset portfolio.”
Dan Beckerman, AEG
“In just over eight years, AXS now sells nearly 50 million tickets annually around the world and this acquisition positions both AEG and AXS for continued growth,” said Dan Beckerman, President and CEO of AEG.
“As a team owner, music promoter and venue owner/operator, ticketing is core to AEG’s business and this transaction allows us to more closely align our global asset portfolio.
“As an AXS client, we are focused on delivering innovation and product development that enhances the fan experience and creates opportunities to integrate data and generate new revenue streams for all AXS clients.”
“This transaction aligns AXS with the strength of AEG’s global assets and operations to further expand our footprint and product offerings.”
Bryan Perez, AXS
Bryan Perez, CEO of AXS ADDED: “This transaction aligns AXS with the strength of AEG’s global assets and operations to further expand our footprint and product offerings.
“AEG’s significant investment is a clear endorsement of our business strategy, technical expertise and growth potential.
“Since 2011, our mission has been to transform the ticketing industry through innovative products, delivering the right ticket to the right fan and the right price and this transaction provides us the opportunity to accelerate that vision globally.”
Music Business Worldwide