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Ticketmaster is acquiring South Africa’s Quicket. (Prostock-Studio/Getty Images)
- Ticketmaster is acquiring South African ticketing company Quicket.
- The US company hopes to expand its operations in Africa.
- Still, the ticketing giant and its parent company have come under heavy criticism from U.S. authorities for alleged anti-competitive practices and a massive data breach last month.
- For more financial news, visit News24 Business front page.
conductor The largest ticketing market One of the world’s largest online travel companies is acquiring South African ticketing company Quicket to expand its presence in Africa.
Ticketmaster Announces The deal was finalized on Wednesday for an undisclosed amount.
Founded in the 1970s and headquartered in the United States, Ticketmaster is a pioneer in the ticketing industry. The company developed early digital ticketing system software. The company currently has a wide range of businesses and operates in more than 35 locations around the world.
Quicket was founded in 2011 by James Tagg, Mike Kennedy and James Hedley, then partners in a web development company in Cape Town, and is currently expanding into Nigeria, Uganda, Kenya, Zambia and Botswana.
Quicket managing director Tager said on Wednesday the deal was a “milestone moment” in connecting African artists with global audiences.
Ticketmaster will launch designated sites in South Africa in 2022.
While Quicket will continue to operate as an independent business unit, Ticketmaster said the partnership will allow event organisers and customers to benefit from Quicket’s local expertise on the African continent and Ticketmaster’s global reach.
Ticketmaster said the deal will accelerate the rollout of digital technologies such as secure encrypted mobile ticketing in Africa.
Ticketmaster president Mark Yovich said the deal would boost live events in Africa.
“Partnering with Quicket will further our mission to bring the global attention Africa’s vibrant live events deserve,” said Yovich. “Together, we will usher in a new era of unprecedented growth for Africa’s entertainment industry.”
Ticketmaster and its parent company Live Nation Entertainment (LNE) are currently under heavy fire from US authorities. The US Department of Justice filed a lawsuit against the companies in May, alleging that LNE violated competition rules by “unlawfully exercising its monopoly power” in the live concert ecosystem. The remedies sought by the Justice Department include: LNE forced the sale of Ticketmaster.
Ticketmaster has also faced scrutiny over its cybersecurity practices after it admitted last month that there had been “unauthorized activity” on its database. This is a group of hackers The personal information of 560 million customers was published online.
Ticketmaster has also faced pressure from Taylor Swift fans in recent years, with its website crashing as people tried to buy tickets for her Taylor Swift Eras Tour.
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