Boston-based Ace Ticket this week acquired Out of Town Ticket Agency (OTTA), a competing brokerage located in Cambridge, MA.
The purchase price was not disclosed, but the move marks Ace Ticket’s 12th acquisition over the past decade as the company solidifies its standing as Boston’s leading ticket broker.
“We have always looked for ways to grow our business and will always explore any new opportunity for growth,” Ace Ticket founder and CEO Jim Holzman said in a statement.
Ace Ticket is the official ticket reseller for the Boston Red Sox and the official travel package provider for the New England Patriots.
Among the other area acquisitions the company has made include Concourse Ticket, Best for Less Ticket and Roth Ticket Agency. With this latest purchase, Ace Ticket now employs 48 people, director of operations Adam Clark told TicketNews.
The company does not publicize its revenues, but it generated an estimated $30 million in 2008. Ace’s online sales alone reportedly are growing by 30 percent annually.
Ace operates five storefronts throughout the city and its sixth — in Kenmore Square across from Fenway Park — is scheduled to open in March 2012. The Commonwealth Avenue building was bought earlier this year for $2 million, and it will undergo nearly $1 million in renovations to serve as the company’s new headquarters.
Clark said the OTTA acquisition further strengthens Ace’s ability to offer fans access to virtually every ticketed event in Boston. He added that Ace also hopes to sign partnership and/or acquisitions next year outside of New England.
“2012 will be an exciting year,” Clark said. “We are opening up our new flagship retail location in Kenmore Square. And we will continue our media partnerships by broadcasting both TV and radio sports shows from the Ace Ticket Studios.”
