AEG Confirms Buyout of Partners for Full Ownership of AXS AEG Confirms Buyout of Partners for Full Ownership of AXS
On Thursday, AEG confirmed Billboard’s reporting that it had bought out its former partners to take sole operational control of AXS ticketing, acquiring the... AEG Confirms Buyout of Partners for Full Ownership of AXS

On Thursday, AEG confirmed Billboard’s reporting that it had bought out its former partners to take sole operational control of AXS ticketing, acquiring the outstanding shares from Outbox Holdings and Flash Seats. The move “will allow the company to camptalize on the projected growth of the global online event ticketing market which is expected to reach more than $67 billion by 2025,” according to a press release issued by the company.

“This transaction aligns AXS with the strength of AEG’s global assets and operations to further expand our footprint and product offerings,” said Bryan Perez, CEO of AXS. “AEG’s significant investment is a clear endorsement of our business strategy, technical expertise and growth potential. Since 2011, our mission has been to transform the ticketing industry through innovative products, delivering the right ticket to the right fan and the right price and this transaction provides us the opportunity to accelerate that vision globally.”

AXS is the ticketing partner for over 300 venues, sports teams and event organizers around the world, including London’s O2 ARena, Los Angeles’ Staples Center, Las Vegas’ T-Mobile Arena, Denver’s Red Rocks Amphitheatre, and many more.

The full press release is available below:

AEG Purchases All Outstanding Shares of AXS

Company Now Owns 100% of Leading Global Ticketing Platform

Transaction Allows AXS to Expand International Operations,Increase Market Share, and Deliver New Innovative Solutions to Clients and Fans

LOS ANGELES (September 19, 2019) — AEG, the world’s leading sports and live entertainment company, announced today that the company has purchased all outstanding shares in AXS, an industry leading ticketing and data solutions provider, bringing its ownership stake to 100%.   The transaction will allow the company to capitalize on the projected growth of the global online event ticketing market which is expected to reach more than $67 billion by 2025.* AEG, which was a founding partner in the ticketing platform from its inception in 2011, acquired the outstanding shares from Outbox Holdings (a venture between Cirque du Soleil Entertainment Group and Outbox founder Jean-Francoys Brousseau) and Flash Seats (the Dan Gilbert-controlled entity involved in the 2015 merger between AXS and Veritix).

AXS currently operates in North America and Europe and recently expanded into Japan. Today, AXS provides ticketing services to over 167 professional sports teams around the world, and over 300 venues.

AXS’ patented Mobile ID technology offers consumers and clients an innovative, mobile-first identity-based ticketing solution. The platform allows fans to efficiently manage their season-seat inventory or single-event tickets; sell tickets in a safe, verified online marketplace; easily transfer tickets to anyone — anytime, anywhere; and helps eliminate lost, stolen and counterfeit tickets. Additionally, through its full-event lifecycle solution set, AXS manages every aspect of the ticketing, in-event and post-event experience and provides clients with fully trackable data as tickets pass from primary to secondary markets and from one fan to the next.

“In just over eight years, AXS now sells nearly 50 million tickets annually around the world and this acquisition positions both AEG and AXS for continued growth,” said Dan Beckerman, President and CEO of AEG.  “As a team owner, music promoter and venue owner/operator, ticketing is core to AEG’s business and this transaction allows us to more closely align our global asset portfolio.  As an AXS client, we are focused on delivering innovation and product development that enhances the fan experience and creates opportunities to integrate data and generate new revenue streams for all AXS clients.”

“This transaction aligns AXS with the strength of AEG’s global assets and operations to further expand our footprint and product offerings,” said Bryan Perez, CEO of AXS. “AEG’s significant investment is a clear endorsement of our business strategy, technical expertise and growth potential. Since 2011, our mission has been to transform the ticketing industry through innovative products, delivering the right ticket to the right fan and the right price and this transaction provides us the opportunity to accelerate that vision globally.”

LionTree Advisors acted as financial advisor to Cirque Du Soleil, Outbox Holdings and Flash Seats in connection with the transaction.

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*According to Global Live Event Ticketing Market: Size, Trends & Forecasts

Sean Burns Editor emeritus

Sean Burns is the former editor of TicketNews.com.