NEWS

EGS AG, CTS Eventim Announces Acquisition of Appliance

CTS Eventim has procured a 60 percent stake in Swiss advertisers Gadget Entertainment and wepromote Entertainment Group Swizterland AG. In doing as such, the organizations will work post-merger as Gadget abc Entertainment Group AG.

The procurement presently permits the European ticketing organization to add an expected to 400-500 live occasions to its yearly schedule. Among that rundown will be remarkable global celebrations Unique Moments, Summer Days Festival, Open Air St. Gallen and Seaside Festival.

“By acquiring majority stakes in Gadget and wepromote, and subsequently merging them with ABC Production, we are efficiently reorganizing our business activities in the Swiss live events sector,” Eventim CEO Klaus-Peter Schulenberg said in an announcement.

“Gadget abc Entertainment Group AG will be a powerful events and entertainment network,” they proceeded. “We can thus deliver impressive proof of the great progress we are making in expanding EVENTIM LIVE, our international promoter network. This means we can offer artists not only highly performant ticketing systems, but also broader opportunities for international tours and customised solutions – all on a one-stop basis.”

A discharge enumerating the business move additionally named the five officials entrusted in running the new activities. Cyrill Stadler and Christof Huber will proceed with their posts as CFO and celebration chief, individually. Device’s Eric Kramer, Stefan Wyss and Oliver Rosa are likewise ready as overseeing accomplices.

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