Ticketmaster, the world's leading ticketing company and an operating business of IAC (Nasdaq: IACI), announced today that the FTC has granted early termination of the HSR waiting period with respect to Ticketmaster's previously announced acquisition of Paciolan, a ticketing software provider based in Irvine, CA. The announcement clears the way for Ticketmaster to complete its acquisition of Paciolan, which the parties anticipate taking place shortly after the New Year. Paciolan provides ticketing, fundraising and marketing technology solutions for nearly 200 clients in North America, including a range of college athletics programs, performing arts organizations, arenas, professional sports teams and museums.
The acquisition will bring together a new array of people, technologies and approaches to ticketing service, enabling Ticketmaster to serve clients at an even better level in the highly dynamic live entertainment business. Additionally, Ticketmaster will augment Paciolan's existing product and service offerings with proprietary features such as TicketFast(R: 45.34, -0.27, -0.59%) online ticket delivery, Ticket Auctions, TicketExchange and VIP packages. The transaction will help ensure that fans receive safe and convenient access to tickets, and that clients receive the best products and services possible.
"This transaction is about giving fans access to what they want and providing clients full access to the spectrum of solutions and services that both companies offer," said Sean Moriarty, President and CEO, Ticketmaster. "We could not be more excited about moving forward with Paciolan and getting to work with Dave Butler and his great team in Irvine."
Following completion of the transaction, Paciolan will continue to operate from its Irvine, CA location, and Paciolan CEO David Butler and his current management team are expected to remain in senior leadership positions in the combined company. Source>>>