European live music promoter DEAG has acquired the remaining 24.9% of shares in ticketing firm MyTicket from publishing house Axel Springer SE and now owns 100% of the company.
The company states that it’s gradually reducing minority interests held in other firms in order to ‘increase the earnings per share attributable to DEAG shareholders’.
In addition to the acquisition of the remaining shares in MyTicket, the now wholly-owned DEAG subsidiary will also cooperate with the Swiss ticket software vendor SecuTix starting in summer 2019.
SecuTix works with many prominent event organizers and venues and offers software solutions for global ticket sales of concerts and events.
Prof. Peter Schwenkow, CEO of DEAG Deutsche Entertainment AG, said: “Many thanks to our partners from Axel Springer SE for working together to establish MyTicket AG in the start-up phase, and I look forward to continuing our close cooperation in the other areas as before.
“The market shares of MyTicket AG are growing strongly and with myticket.de and myticket.at it has developed into one of the leading electronic ticket platforms.
“The market shares of MyTicket AG are growing strongly and with myticket.de and myticket.at it has developed into one of the leading electronic ticket platforms.”
Prof. Peter Schwenkow, DEAG
Added Schwenkow: “The transaction will enable us to further implement our strategic goals: The acquisition of the shares in MyTicket will enable us to increase earnings per share over the next few years.
“In addition, we will continue to expand DEAG’s ticketing business and intend to expand further internationally.
“After the introduction phase with millions of tickets sold and hundreds of thousands of satisfied customers, the team can now implement the next phase of the growth course.”
“Both the repurchase of all shares and the upcoming ticketing software exchange are decisive steps for MyTicket in 2019 in strengthening the company for future tasks and challenges.”
Moritz Schwenkow, MyTicket
Moritz Schwenkow, CEO of mytic MyTicket AG added: “Both the repurchase of all shares and the upcoming ticketing software exchange are decisive steps for MyTicket in 2019 in strengthening the company for future tasks and challenges.
“Furthermore, this will enable us to market the events of the DEAG family and new, innovative formats in direct communication with our customers in an even more targeted manner.”
“We are very proud to be able to contribute to the continued success of MyTicket with SecuTix 360.”
Frédéric Longatte, SecuTix
Frédéric Longatte, CEO of SecuTix SA, said: “We are very proud to be able to contribute to the continued success of MyTicket with SecuTix 360°.
“SecuTix has extensive experience in all genres that MyTicket offers on its portal. With our ticketing engagement platform, we are the ideal partner for MyTicket to offer promoters and events, be it sports, festivals or culture, a powerful solution for marketing and distribution.”Music Business Worldwide