Eventim Buys See Tickets Germany

Bremen-based ticketing giant CTS Eventim has purchased See Tickets Germany and Ticket Online Group for $183.5 million.

The share purchase agreement and a 12-year exclusive ticketing contract with Stage Entertainment Germany were signed July 5.

Stage Entertainment Germany’s parent company, Amsterdam-based Stage Entertainment BV, owned 40 percent of See Tickets Germany. The rest belonged to the Parcom private-equity group.

By acquiring See Tickets Germany, Eventim is simultaneously taking over Ticket Online Software GmbH, Ticket Online Sales & Service Center and Ticket Online Polska Sp zoo in Warsaw.

“By making this acquisition the company is continuing its successful strategy of European expansion,” Eventim chief Klaus-Peter Schulenberg said in a statement. However, in some territories Eventim may see its growth stalled by its ongoing row with Live Nation.

In the fiscal year 2008-2009, See Tickets Germany and Ticket Online Group generated revenues worth $50.9 million, according to the company. Pre-tax profit was $17.3 million.

Eventim chief financial officer Volker Bischoff reckons cost savings and synergies worth $19 million.

As for content, Stage Entertainment produces popular musical shows including “Mamma Mia,” “The Lion King” and “Holiday on Ice.”