Ticket Evolution and DTI Management announced this week that the companies would be merging, while simultaneously announcing the acquisition of Ticket Vision and an influx of financing from sources including Legends.
The TEVO/DTI merger has been rumored since the summer of 2020, bringing together a B2B ticketing exchange and one of the leading ticket aggregation services, which also owns the 1Ticket ticket delivery system. Ticket Vision is an auto-pricing software application for ticket resellers.
“This company’s core focus will be to provide the best software and tools to empower professional sellers to sell more tickets atoptimal prices, and to accelerate the payment process,” says Curtis Cheng, who will serve as CEO of the merged companies, with Lee Shenker as President. “There are so many tools and services required to run a professional ticket selling business in today’s environment. Bringing all of them together under one roof was a driving force behind the combination of these businesses – enabling us to offer a user-friendly and highly-customizable solution for professional sellers of any shape and size.”
Beyond Cheng and Shenker, the company – which will operate as Ticket Evolution – will retain Manish Bardolia as Chief Product Officer and Dan Weisbaum as VP of Client Services. Also announced in the transaction was the appointment of Sam Soni – founder and former CEO of PrimeSport – will join its Board of Directors.
The full press release announcing the news is included below:
Ticket Evolution and DTI Management Merge Businesses, Acquire Ticket Vision Software and Secure Additional Financing
Ticket Evolution and DTI Management, two leading technology companies servicing professional sellers of live event tickets, announced today that they have merged their businesses, acquired the Ticket Vision auto-pricing software application and secured additional strategic financing to invest in technology initiatives, increase staffing and solidify the combined company’s financial footing.
Ticket Evolution is the ticketing industry’s premier B2B exchange. DTI Management manages the industry’s most established professional ticket seller platform, and is the leading distributor of live event tickets to online resale marketplaces. DTI also owns 1Ticket, the industry’s most respected software and service solution for professional sellers to manage the delivery of tickets and associated metadata between POS systems, online marketplaces and ticket purchasers.
The core of DTI’s senior management team will assume similar roles overseeing the “new” Ticket Evolution – with Curtis Cheng as CEO and Lee Shenker as President. Meanwhile, key members of the Ticket Evolution leadership team will remain in place – including Manish Bardolia (who will assume the role of Chief Product Officer) and Dan Weisbaum (who will continue as VP of Client Services and Integrations).
In addition to merging the Ticket Evolution, DTI and 1Ticket businesses, the company also acquired Ticket Vision, a powerful auto-pricing software application that is tailored to serve the needs of professional ticket sellers.
In the wake of a year in which COVID-19 wreaked havoc on the live event industry, the potent combination of Ticket Evolution, DTI Management, 1Ticket and Ticket Vision positions the new company as a self-contained ecosystem for professional ticket sellers that offers a full stack of software, tools, services and distribution.
As part of this multi-layered series of transactions, Ticket Evolution also secured additional financing from multiple sources, including Legends, a premium experiences company in the sports and entertainment space. The two companies will also work together to enable Legends to offer multi-channel ticket distribution to its clients.
To further the new company’s reach and strategic outlook, Ticket Evolution also announced today that Sam Soni – founder and former CEO of PrimeSport – will join the Board of Directors of Ticket Evolution.
“This company’s core focus will be to provide the best software and tools to empower professional sellers to sell more tickets at optimal prices, and to accelerate the payment process,” said CEO Curtis Cheng. “There are so many tools and services required to run a professional ticket selling business in today’s environment. Bringing all of them together under one roof was a driving force behind the combination of these businesses – enabling us to offer a user-friendly and highly-customizable solution for professional sellers of any shape and size.”
The new company will operate under the Ticket Evolution umbrella, and immediately begin sharing resources to optimize customer experience.
Last Updated on May 5, 2021