New York-based Broker Genius has entered into a merger agreement with Seat Scouts to create a platform that enables users to process, price, distribute, and analyse their ticket portfolios.
The secondary ticketing technology companies will immediately start working on their 2021 product road map which includes new products as well as launching an all in one solution for ticket brokers.
Sam Sherman, chief executive and founder of Broker Genius, said: “By bringing our companies together through this merger, we are creating an even stronger platform for our clients. The combined business will have tremendous cost and technology synergies and will enable accelerated innovation. Drew (Gainor – CEO and founder of Seat Scouts) and I have spent much of the last four months to get this merger done and I look forward to working together on our exciting roadmap.”
Broker Genius provides ticket pricing technology and data analytics that help ticket sellers maximise revenue. North Carolina-based Seat Scouts, founded in 2017, offers full order processing and fulfilment services in addition to pricing software capabilities. There are 25 employees in the combined organisation.
Gainor, who will become the firm’s chief product officer, added: “Combining our industry-leading products, Uptick, Atlas, Sync, and Event Watcher will guarantee our platform fits the needs of every ticket reseller. Now, more than ever, this industry needs a unified platform that can provide maximum efficiency to our clients’ ticket operations.”
The combined entity will be targeting the entire value chain in the events ticketing market that has just undergone a major disruption due to the COVID-19 pandemic, according to Guy Levy-Yurista, a Broker Genius board member.
John Lucier, chief financial officer of Broker Genius, added: “This strategic combination positions us to emerge as the market leader in automation technology for the live event industry.
“With software playing an increasingly important role in ticketing, this merger will provide unparalleled value to our customers by reducing complexity and streamlining operations through our end-to-end pricing and processing technology.”