Ticketmaster, the world's leading ticketing company and an operating
business of IAC, has entered into a definitive agreement to
acquire all of the outstanding equity of ticketing services and software
provider Paciolan. Based in Irvine, CA, Paciolan provides ticketing,
fundraising and marketing technology solutions for 190 clients in North
America, including a range of college athletics programs, performing arts
organizations, arenas, professional sports teams, and museums.
The acquisition will enable Ticketmaster to compete more effectively in
the highly dynamic live event business by providing the company with more
people, technologies and approaches to serve the industry. Upon closing,
Ticketmaster plans to augment Paciolan's existing product and service
offerings with proprietary features such as TicketFast online ticket
delivery, Ticket Auctions, TicketExchange and VIP packages. Ultimately, the
transaction will ensure that clients receive the best products and services
possible, and that fans receive convenient and easy access to tickets and
event information.
"Over the past 27 years, Paciolan has established itself as a
successful ticketing solution for live events, especially in the segments
of college athletics and the arts," said Sean Moriarty, President and CEO,
Ticketmaster. "This transaction is about giving clients full access to the
wide spectrum of solutions and services that both companies offer. Dave
Butler and his team are true professionals who are dedicated to providing
the best service possible to their clients. We are thrilled to have the
opportunity to welcome this talented team to the Ticketmaster family."
"Our decision to join Ticketmaster reflects our deep commitment to
providing our customers with what they want and how they want it," said
Dave Butler, CEO, Paciolan. "That commitment grows even stronger with this
announcement, as we will have access to even greater resources, talent and
assets."
Upon completion of the transaction, Paciolan will continue to operate
from its Irvine, CA location and will retain David Butler and the company's
current management team.
Paciolan's primary selling shareholders are an established group of
venture capitalists including Technology Crossover Ventures, Argentum
Capital Partners and Marwit Capital Company, as well as strategic investor
Comcast Spectacor. The Agreement is subject to customary closing
conditions, including obtaining regulatory approval
.
Ticketmaster
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).
Paciolan
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.
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