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Vivid Seats Announces Acquisition Of Wavedash

Aug 07, 2023•over 2 years ago

Acquiring Company

Vivid Seats Inc.

Acquired Company

Wavedash

ChicagoSportsEvent ManagementEventsE CommerceTicketingMarketplace

Description

Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats”), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced that it has entered into a definitive agreement to acquire WD Holdings Co., Ltd. (“WD Holdings” or “Wavedash”), an online ticket marketplace headquartered in Tokyo, Japan. Vivid Seats will acquire Wavedash for an enterprise value of approximately ¥‎8.7 billion, or approximately $61 million*, in cash. The transaction is expected to close in the third quarter of 2023, subject to regulatory requirements and other customary closing conditions.

Company Information

Company

Vivid Seats Inc.

Location

111 N. CANAL ST.

Chicago, Illinois, United States

About

Founded in 2001, Vivid Seats is a leading online ticket marketplace committed to becoming the ultimate partner for connecting fans to the live events, artists and teams they love. Based on the belief that everyone should “Experience It Live,” the Chicago-based company provides exceptional value by providing one of the widest selections of events and tickets in North America and an industry leading Vivid Seats Rewards program where all fans can earn on every purchase. Vivid Seats has been chosen as the official ticketing partner by some of the biggest brands in the entertainment industry including ESPN, Rolling Stone and the Los Angeles Clippers. Vivid Seats also owns Vivid Picks, a daily fantasy sports app. Through its proprietary software and unique technology, Vivid Seats drives the consumer and business ecosystem for live event ticketing and enables the power of shared experiences to unite people. Vivid Seats has been recognized by Newsweek as one of America’s Best Companies for Customer Service in ticketing. Fans who want to have the best live experiences can start by downloading the Vivid Seats mobile app, going to vividseats.com, or calling 866-848-8499.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed