DAEG Acquires Remaining 24.9% Stake to Fully Own MyTicket
DEAG has acquired online ticketing firm MyTicket and made a deal with SecuTix.
European live music promoter Deutsche Entertainment Aktiengesellschaft (DEAG) has confirmed a major move.
The Berlin company has acquired the remaining 24.9% shares in MyTicket from Axel Springer SE, a publishing house. This allows DEAG to completely own the online ticketing firm.
The strategic purchase keeps in line with DEAG’s plans to expand internationally. It also aims to reduce minority interests in other firms ‘to increase earnings per share (EPS) attributable’ to shareholders.
In addition, the Berlin company has confirmed its new subsidiary will work with SecuTix, a Swiss ticket vendor, starting this summer.
SecuTix offers software solutions for global concert and event ticket sales. The Swiss vendor currently partners with organizers and venues to provide solutions for culture, festival, sport, tournament, exhibitions, and fair events.
Speaking about the acquisition, Professor Peter Schwenkow, CEO of DAEG Deutsch Entertainment AG, said,
“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 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.”
He added the transaction will allow the company to “further implement our strategic goals.”
Moritz Schwenkow, CEO of mytic MyTicket AG, said,
“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.”
SecuTix CEO Frédéric Longatte added,
“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.”
Featured image by DEAG.