Federal Trade Commission (FTC) Grants Early Termination of Hart-Scott-Rodino
(HSR) Waiting Period
WEST HOLLYWOOD, Calif., Dec. 20 /PRNewswire-FirstCall/ -- Ticketmaster,
the world's leading ticketing company and an operating business of IAC
(Nasdaq: IACI), announced today that the FTC has granted early termination of
the HSR waiting period with respect to Ticketmaster's previously announced
acquisition of Paciolan, a ticketing software provider based in Irvine, CA.
The announcement clears the way for Ticketmaster to complete its acquisition
of Paciolan, which the parties anticipate taking place shortly after the New
Year. Paciolan provides ticketing, fundraising and marketing technology
solutions for nearly 200 clients in North America, including a range of
college athletics programs, performing arts organizations, arenas,
professional sports teams and museums.
The acquisition will bring together a new array of people, technologies
and approaches to ticketing service, enabling Ticketmaster to serve clients at
an even better level in the highly dynamic live entertainment business.
Additionally, Ticketmaster will augment Paciolan's existing product and
service offerings with proprietary features such as TicketFast(R) online
ticket delivery, Ticket Auctions, TicketExchange and VIP packages. The
transaction will help ensure that fans receive safe and convenient access to
tickets, and that clients receive the best products and services possible.
"This transaction is about giving fans access to what they want and
providing clients full access to the spectrum of solutions and services that
both companies offer," said Sean Moriarty, President and CEO, Ticketmaster.
"We could not be more excited about moving forward with Paciolan and getting
to work with Dave Butler and his great team in Irvine."
Following completion of the transaction, Paciolan will continue to operate
from its Irvine, CA location, and Paciolan CEO David Butler and his current
management team are expected to remain in senior leadership positions in the
combined company.
About Ticketmaster
Ticketmaster is the world's leading ticketing company, operating in 20
global markets, providing ticket sales, ticket resale services, marketing and
distribution through http://www.ticketmaster.com , one of the largest
e-commerce sites on the Internet; approximately 6,500 retail outlets; and 20
worldwide call centers. Ticketmaster celebrated its 30th anniversary in 2006
and currently serves more than 9,000 clients worldwide across multiple event
categories, providing exclusive ticketing services for hundreds of leading
arenas, stadiums, performing arts venues, museums, and theaters. In 2006, the
company sold more than 128 million tickets valued at over $7 billion on behalf
of its clients. Ticketmaster is headquartered in West Hollywood, California
and is an operating business of IAC (Nasdaq: IACI).
About Paciolan
Founded in 1980, Paciolan is a leading ticketing services and software
provider that offers ticketing, fundraising and marketing technology solutions
for clients across North America. Paciolan provides a wholly integrated
infrastructure that puts venues in direct control of their customer
relationships, brands and revenue potential. Clients include a range of
college athletics programs, professional sports teams, performing arts
organizations, arenas and museums.
Paciolan's clients include: Thomas & Mack Center, Louisiana State
University, University of Oklahoma, University of Nebraska, The Resch Center,
University of Michigan, Florida State University, University of Maryland,
University of Southern California, University of North Carolina at Chapel
Hill, the Colorado Rockies, San Diego Padres, Philadelphia Phillies, Denver
Center for the Performing Arts, Toronto Symphony, American Museum of Natural
History, Boston Museum of Fine Arts, National Aquarium in Baltimore and Dover
Downs Entertainment, Inc.
SOURCE Ticketmaster
Joe Freeman of Ticketmaster, +1-310-360-2344
