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Bahrain-based global manager of alternative investment products, Investcorp, announced its acquisition of ticketing company Vivaticket yesterday. Vivaticket’s co-founders Luca Montebugnoli and Luana Sabattini, alongside the management team, will continue to remain involved in the business and hold a meaningful stake in the company.
Established in 1999, Vivaticket is a leading global provider of integrated ticketing software solutions to the leisure and entertainment, sport, culture and tradeshow industries. Headquartered in Bologna, Italy, the ticketing firm has some of the world’s leading names as clients, including Walt Disney World, Musee du Louvre and FC Barcelona, among others. The transaction is expected to close by year-end, subject to customary closing conditions.
The new purchase adds to Investcorp’s extensive experience in the Italian market, in which it has been present since 1985. This marks the company’s third European investment of the year in the space following the acquisitions of Cambio Healthcare Systems, one of Scandinavia’s suppliers of healthcare information systems in February; and Contentserv, a global provider of product information management software in July.
As of June 30, 2019, the Investcorp Group had $28.2 billion in total assets under management (AUM), including assets managed by third-party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM. Last month, the corporation also reported a fiscal year net income of $131 million for the period, up 5% compared to $125 million for the 12 months ended June 30, 2018.
“As global demand for entertainment and experiential content continues to increase, Vivaticket is ideally positioned to capitalize on multiple growth opportunities that directly align with Investcorp’s investment expertise”, commented Daniel Lopez-Cruz, Head of Investcorp’s European Private Equity group.
Investcorp manages in the region of $27 billion of assets across private equity, real estate, absolute return investments, and credit. It has offices in New York, London, Bahrain, Abu Dhabi, Doha, Riyadh and Singapore. Abu Dhabi’s Mubadala Development Company remains one of the biggest shareholders of Investcorp.