AEG Purchases All Outstanding Shares of AXS
Company Now Owns 100% of Leading Global Ticketing Platform
Transaction Allows AXS to Expand International Operations, Increase Market Share of Rapidly Growing Industry, and Deliver New Innovative Solutions to Clients and Fans
LOS ANGELES--(BUSINESS WIRE)--AEG, the world’s leading sports and live entertainment company, announced today that the company has purchased all outstanding shares in AXS, a industry leading ticketing and data solutions provider, bringing its ownership stake to 100%. The transaction will allow the company to capitalize on the projected growth of the global online event ticketing market which is expected to reach more than $67 billion by 2025.* 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.
One of the fastest growing ticketing platforms, 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.
AXS’ patented Mobile ID technology offers consumers and clients an innovative, mobile-first identity-based ticketing solution. The platform allows fans to efficiently manage their season-seat inventory or single-event tickets; sell tickets in a safe, verified online marketplace; easily transfer tickets to anyone -- anytime, anywhere; and helps eliminate lost, stolen and counterfeit tickets. Additionally, through its full-event lifecycle solution set, AXS manages every aspect of the ticketing, in-event and post-event experience and provides clients with fully trackable data as tickets pass from primary to secondary markets and from one fan to the next.
“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,” said Bryan Perez, CEO of AXS. “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.”
LionTree Advisors acted as financial advisor to Cirque Du Soleil, Outbox Holdings and Flash Seats in connection with the transaction.
*According to Global Live Event Ticketing Market: Size, Trends & Forecasts
AXS is a global ticketing platform, offering best-in-class ticketing technology in a single platform to suit every client size and type, from small music clubs to the largest sports stadiums. AXS is the ticketing partner for over 300 premier venues, sports teams, event organizers around the world, including AEG, The O2, STAPLES Center, T-Mobile Arena, Sprint Center, Tele2Arena, Red Rocks Amphitheatre, Cleveland Cavaliers, Toyota Center, Houston Rockets, NCAA Final Four, and the Vegas Golden Knights. AXS powers both primary and resale marketplaces, leveraging integrated technology and analytics to enable its clients to sell the right ticket to the right fan at the right price. Headquartered in Los Angeles, California, AXS employs more than 350 professionals in multiple locations worldwide, including Cleveland, Charlotte, Dallas, Denver, London, and Stockholm.
Headquartered in Los Angeles, California, AEG is the world’s leading sports and live entertainment company. With offices on five continents, AEG operates in the following business segments: AEG Facilities, which is affiliated with or owns, manages or consults with more than 150 preeminent arenas, stadiums, theaters, clubs and convention centers around the world including The O2 Arena, the Sprint Center and the Mercedes-Benz Arenas; AEG Presents, which is dedicated to all aspects of live contemporary music performances, including producing and promoting global and regional concert tours, music and special events and world-renowned festivals; AEG Real Estate, which develops world-class venues, as well as major sports and entertainment districts like STAPLES Center and L.A. LIVE; AEG Sports, which is the world’s largest operator of sports franchises and high-profile sporting events; and AEG Global Partnerships, which oversees worldwide sales and servicing of sponsorships including naming rights, premium seating and other strategic partnerships. Through its worldwide network of venues, portfolio of powerful sports and music brands, AXS.com ticketing platform, AXS cable television channel and its integrated entertainment districts, AEG hosts more than 22,000 events and entertains more than 100 million guests annually.
More information about AEG can be found at www.aegworldwide.com.