CTS Eventim has entered the Russian live entertainment market through its acquisition of the country’s leading tour and concert promoter, Talent Concert International (TCI).

The German ticketing company has bought 51 per cent of the shares of TCI, bringing the Russian firm into the promoter network Eventim Live.

Klaus-Peter Schulenberg, chief executive of Eventim, said: “TCI complements our portfolio perfectly. The Russian market is very important to a growing number of internationally popular artists – and few companies bring as many acts from abroad to Russia as TCI. I am sure that our new colleagues will greatly enrich the work of our Eventim Live network of promoters.”

TCI was founded in 1995 and has since organised live performances by Blur, Nick Cave, Deep Purple, Kraftwerk, and Limp Bizkit, among others, in its home market. This year’s highlights include Jennifer Lopez, Rammstein and Whitesnake.

Ed Ratnikov (pictured), chief executive of TCI, added: “Eventim is the best possible partner for continuing TCI’s growth story long-term. Becoming part of a global player opens up additional opportunities for us and the entire Russian market.

“And last but not least, it is a great honour for us to join the Eventim Live network of promoters. We look forward to expanding our new partner’s portfolio with exciting shows, and its geographic reach all the way to the Pacific.”

Ratnikov and finance director Nikolay Sinitsyn will continue to serve as TCI’s senior management. Together, they also hold the remaining 49 per cent of shares in the company.

In March, Eventim combined its live entertainment activities into a pan-European promoter network called Eventim Live. The new unit comprises 28 promoters that organise 30 festivals and more than 5,000 live events each year, with approximately 10 million visitors in 12 countries.

Frithjof Pils, managing director of Eventim Live, added: “Firstly, the acquisition of TCI strengthens our market position in Europe. Secondly, it gives us access to the many exciting acts that have long relied on the services of Ed Ratnikov and his team in Russia. And thirdly, our other promoters now have a hassles-free way to offer their artists the option of performing in Russia.”