Thursday, 5 December 2013
SFX buys into ticketing
SFX has paid a reported $16.5 million a 75% stake in Paylogic, the European "new generation ticketing company" which counts a number of big dance music festivals amongst its client base, but which also works with the wider music and entertainment industries. Paylogic was founded 5 years ago, and has offices in Amsterdam, Groningen, Berlin, and Antwerp. Currently, the company offers ticketing services to more than 2,000 clients and has operations in the U.S., offering ticketing services for the TomorrowWorld festival outside Atlanta. Confirming his latest acquisition, SFX's Robert Sillerman said: "Paylogic has consistently proven its ability to handle unprecedented ticket requests. This kind of technical skill will be invaluable to us as we connect the millions and millions of EMC fans to the content and events they love, and to each other through integrated social media". Paylogic's Jan Willem Van Der Meer added: "It is very exciting to become part of this growing, worldwide EMC company, SFX. We will have the opportunity to further advance and develop the most optimal ticketing and data solutions for this market and beyond: web, mobile and social".