Broker service DTI Management has acquired digital ticket software and services supplier 1Ticket.
1Ticket, which is based in Maryland and led by chief executive Jason Knieriem, creates systems that manage the delivery of PDF and digital tickets and associated metadata between its ticket broker clients, POS systems and the online resale marketplaces where their tickets are sold to consumers.
No financial details of the deal were given, but Virginia-headquartered DTI said each company will continue to operate separately for the foreseeable future.
DTI, which last October received a combined $75m (£60.0m/€71.0m) investment from CVC Capital Partners and New Amsterdam Growth Capital, said the acquisition will provide the companies’ common clients with a “more streamlined ticket resale process and enhanced customer service, and improved coordination with resale marketplaces”.
“For a long time, we have admired and appreciated the unique and important contributions that 1Ticket makes to the secondary ticketing market,” said Curtis Cheng, DTI founder and chief executive. “Jason and his team have done an amazing job in creating and nurturing a strong brand, and providing a truly valuable offering to the ticket broker community.
“It was an especially perfect time for us to pursue this acquisition, since DTI is currently in the process of redesigning and rebuilding our core product – the DTI platform. As anyone who knows me will tell you, I am always looking to partner with the best players in our industry – to improve the offering to our clients.”
As a result of the acquisition, DTI and 1Ticket will now have more than 100 employees. DTI said 1Ticket will continue to service the ticket broker community on a standalone basis, independently of any one marketplace or point-of-sale.
“1Ticket has been integrated with DTI since the DTI platform launched in 2012,” says Knieriem. “Joining DTI was the logical step to provide 1Ticket with the capital and resources needed to offer better technology and more innovative products to our clients – no matter which platform they use.”
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