CTS Eventim, already a majority shareholder, has acquired 100% of Kinoheld, whose white-label booking systems are used by small and medium-sized cinemas
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Kuala Lumpur-based TicketCharge serves as the lynchpin of a new Asian operation for the Australian live entertainment group
By IQ on 03 Jul 2017
TEG, the parent company of Australian ticketing giant Ticketek, has established an Asian division following the acquisition of Malaysia’s TicketCharge.
The new division, based in Singapore, will “focus on the strong growth in live entertainment in the region”, says TEG, and demonstrates the “focus and commitment to expand the [TEG] business into multiple Asian markets”.
TicketCharge was founded in 1991 and has since grown to become Malaysia’s largest ticketing company. It has offices in Kuala Lumpur and Penang.
The acquisition comes as TEG announces new partnerships for its Softix ticketing software in Asia, with the as-yet-unannounced new partners joining clients in 20 countries.
“Our strategy puts us on course to becoming a truly international promoter and service producer”
“TEG is the largest diversified entertainment company in Asia Pacific and we have a track record and accumulated expertise in the entertainment industry,” comments TEG CEO Geoff Jones.
“We see huge opportunities in many offshore markets, and our strategy puts us on course to becoming a truly international promoter and service producer.”
In addition to Ticketek, the largest entertainment/sports ticket agency in Australasia, the TEG portfolio includes self-service ticketing platform Eventopia, promoter TEG Live and data business TEG Analytics.
The company is believed to be for sale, with CTS Eventim and Chinese conglomerates Fosun and Wanda Group reportedly among prospective buyers.
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