Ticketmaster Announces Paciolan Deal Set to Close
Federal Trade Commission (FTC) Grants Early Termination of Hart-Scott-Rodino (HSR) Waiting Period
WEST HOLLYWOOD, Calif., Dec. 20 /PRNewswire-FirstCall/ — Ticketmaster, the world’s leading ticketing company and an operating business of IAC (Nasdaq: IACI – News), announced today that the FTC has granted early termination of the HSR waiting period with respect to Ticketmaster’s previously announced acquisition of Paciolan, a ticketing software provider based in Irvine, CA. The announcement clears the way for Ticketmaster to complete its acquisition of Paciolan, which the parties anticipate taking place shortly after the New Year. Paciolan provides ticketing, fundraising and marketing technology solutions for nearly 200 clients in North America, including a range of college athletics programs, performing arts organizations, arenas, professional sports teams and museums.
The acquisition will bring together a new array of people, technologies and approaches to ticketing service, enabling Ticketmaster to serve clients at an even better level in the highly dynamic live entertainment business. Additionally, Ticketmaster will augment Paciolan’s existing product and service offerings with proprietary features such as TicketFast® online ticket delivery, Ticket Auctions, TicketExchange and VIP packages. The transaction will help ensure that fans receive safe and convenient access to tickets, and that clients receive the best products and services possible.
“This transaction is about giving fans access to what they want and providing clients full access to the spectrum of solutions and services that both companies offer,” said Sean Moriarty, President and CEO, Ticketmaster. “We could not be more excited about moving forward with Paciolan and getting to work with Dave Butler and his great team in Irvine.”
Following completion of the transaction, Paciolan will continue to operate from its Irvine, CA location, and Paciolan CEO David Butler and his current management team are expected to remain in senior leadership positions in the combined company.
Ticketmaster is the world’s leading ticketing company, operating in 20 global markets, providing ticket sales, ticket resale services, marketing and distribution through http://www.ticketmaster.com , one of the largest e-commerce sites on the Internet; approximately 6,500 retail outlets; and 20 worldwide call centers. Ticketmaster celebrated its 30th anniversary in 2006 and currently serves more than 9,000 clients worldwide across multiple event categories, providing exclusive ticketing services for hundreds of leading arenas, stadiums, performing arts venues, museums, and theaters. In 2006, the company sold more than 128 million tickets valued at over $7 billion on behalf of its clients. Ticketmaster is headquartered in West Hollywood, California and is an operating business of IAC (Nasdaq: IACI – News).
Founded in 1980, Paciolan is a leading ticketing services and software provider that offers ticketing, fundraising and marketing technology solutions for clients across North America. Paciolan provides a wholly integrated infrastructure that puts venues in direct control of their customer relationships, brands and revenue potential. Clients include a range of college athletics programs, professional sports teams, performing arts organizations, arenas and museums.
Paciolan’s clients include: Thomas & Mack Center, Louisiana State University, University of Oklahoma, University of Nebraska, The Resch Center, University of Michigan, Florida State University, University of Maryland, University of Southern California, University of North Carolina at Chapel Hill, the Colorado Rockies, San Diego Padres, Philadelphia Phillies, Denver Center for the Performing Arts, Toronto Symphony, American Museum of Natural History, Boston Museum of Fine Arts, National Aquarium in Baltimore and Dover Downs Entertainment, Inc.