Germany's CTS Eventim to acquire Vivendi's festival ticketing arm

German ticketing firm CTS Eventim AG and French media company Vivendi SA have signed an agreement on the sale of Vivendi's festival and international ticketing business, known as See Tickets.

The financial terms of the transaction, expected to be completed in the coming months, are not known.

Klaus-Peter Schulenberg, chief executive of CTS Eventim, said on Tuesday: " The acquisition supports our internationalization strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale."

See Tickets provides ticketing services for concerts, trade fairs, sporting events, and others.

In addition to the UK, the business that CTS Eventim is set to acquire, it also operates in seven other European countries, and in the US.

Globally, See Tickets sold about 44 million tickets in 2023.

Vivendi's ticketing and festival activities that CTS Eventim plans to buy had collectively recorded revenue of €137 million ($147 million) for 2023.

The ticketing business generated roughly €105 million of that, with the UK market responsible for the largest share, followed by its US market.

Post transaction, See Tickets and the festival business will retain their existing identities and management.

The companies noted that Vivendi's performance hall activities, including L'Olympia in Paris, as well as See Tickets France and Brive Festival, are not part of this deal.