fbpx

PROFILE

MY SUBSCRIPTION

LOGOUT

x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

Patron Technology sold to PE firm Vector Capital

San Francisco-based private-equity firm Vector Capital has acquired Patron Technology, the company behind Greencopper, Marcato and several other familiar event technology products.

Vector, which specialises in investing in established technology businesses, says all Patron staff remain in place and will continue to operate the company on a day-to-day basis. Terms of the deal were not disclosed, but Vector manages nearly US$4 billion worth of investments.

“With Patron Technology, we saw an opportunity to back the leading platform and a seasoned management team as they successfully navigate unprecedented, Covid-induced market disruption in the live events industry,” comments Rob Amen, managing director of Vector Capital.

“Vector excels at investing during volatile times, and our thesis is that only the best products and most talented executives will survive this dislocation and emerge as market leaders. We are confident that our growth investment will enable Patron Technology to not only outlast this global pandemic but become stronger on the other side of it.”

Patron Technology, formerly known as PatronManager, has spent the past few years buying up various event technology companies, including app developers, ticket sellers and event management platforms. Its portfolio includes festival app company Greencopper, event management software developer Marcato, RFID provider Token and ticketing software firms ShowClix, Ticketleap, Ticketbooth and GrowTix.

“Vector excels at investing during volatile times”

The company was formerly majority owned by Providence Equity Partners (whose other live industry investments include Superstruct Entertainment, Tait Towers and Ambassador Theatre Group).

Marc Jenkins, CEO of Patron Technology, says: “This is an exciting and important day in our company’s history. It kicks off a fresh, new partnership alongside the thoughtful investment team at Vector. We are eager to work with them to propel the business through the age of social distancing and beyond.

“I’m extremely proud to be part of such an amazing team, past and present, that works tirelessly to serve our world-class clients.”

“With a great set of products, a strong balance sheet and an unparallelled management team, Patron Technology is well positioned to grow over the coming years,” adds Vector Capital vice-president Tom Smith.

“We look forward to partnering with Marc and his team as they continue to grow from this new position of strength and renewed investment.”

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Patron Technology acquires Australia’s Ticketbooth

Patron Technology has added Australian DIY ticketing platform Ticketbooth to its burgeoning event tech portfolio.

Ticketbooth, along with sister companies Token Systems (RFID/cashless payments) and Audiencetools (social marketing), is Pennsylvania-based Patron’s first acquisition outside North America. The company also owns ticketing services ShowClix and Ticketleap, festival app developer Greencopper and event management platform Marcato, which it acquired last October.

“Over the past few years, Patron Technology has grown into a global presence in the event industry, offering event organisers a better, more flexible way to manage their events and deepen their relationship with attendees and sponsors,” says Marc Jenkins, Patron Technology’s CEO. “Our top priority, always, is providing our partners with the tools they need to take their event to the next level.

“With this latest acquisition of Ticketbooth, we will be able to do even more to give attendees an amazing event experience.”

“With this latest acquisition of Ticketbooth, we will be able to do even more to give attendees an amazing event experience”

Simon Guerrero, CEO of Ticketbooth, adds: “We already work well with ShowClix and align with the mission of Patron Technology to supply organisers with the tools they need to create awesome experiences every step of the way, so I am pleased to be integrating with the Patron Technology team fully.

“Both Token and Audiencetools are positioned to help with strong cashless and social marketing platform offerings for the US.”

According to the International Ticketing Yearbook 2018, Ticketbooth is one of “scores of small-scale and DIY outfits competing for a slice of Australia’s billion dollar-plus live entertainment space”, in a market dominated by TEG’s Ticketek and Live Nation’s Ticketmaster.

Patron is majority owned by Providence Strategic Growth, a unit of Providence Equity Partners, the private-equity firm behind fast-growing European festival promoter Superstruct Entertainment.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Marcato acquired by Patron Technology

Patron Technology, the parent company of ticketing platforms ShowClix and Ticketleap and festival app developer Greencopper, has acquired Marcato, a Canada-based provider of live events management software, for an undisclosed sum.

Marcato provides a web-based platform for festivals to manage back-end logistics, including credentialling, artist advancing, asset management and catering. The company works with more 300 events globally, including Coachella, Bonnaroo, Eurosonic Noorderslag and Iceland Airwaves, and is also a member of Yourope and ‘friend’ of the UK’s Association of Independent Festivals.

Natasha Hillier, Marcato’s GM, says: “At Marcato, we’ve seen our clients experience a sizeable reduction in onsite staffing costs, catering costs and, especially, in the amount of time spent organising their events.” “By joining Patron Technology, we can expand our reach and offer the product our clients love to even more organisers,” adds CAO Alison Giovannetti, “while maintaining Marcato’s superior level of support.”

“Marcato is the best and most efficient way to manage everything that goes into organising an event”

“We are excited for the Marcato team and product to join our business,” comments Marc Jenkins, CEO of Patron Technology. “We recognise the many hours live event promoters spend on the details, coordination and logistics of putting on events, [and] Marcato is the best and most efficient way to manage everything that goes into organising an event.

“Adding the layer of event logistics and operations to Patron Technology brings the full life-cycle of your event into one integrated product offering. Patron Technology isn’t just about the consumer-facing side of events; we are now helping event organisers behind-the-scenes as well.”

Patron acquired Greencooper, whose clients include Coachella, Roskilde, Reading and Leeds and Pitchfork Music Festival, in February. The company is majority owned by Providence Strategic Growth, a unit of Providence Equity Partners, the private-equity firm behind Superstruct Entertainment, which is an investor in Sziget, Sónar and, most recently, Norway’s Øya Festival.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.