TEG owner looks at potential sale

Ticketek owner TEG could be set to change hands after parent company Affinity Equity Group appointed Goldman Sachs to run a trade sale process.

The leading ticketing, live events and analytics company, whose subsidiaries include TEG Live, Softix, Eventopia and Sydney’s Qudos Arena, could fetch around $1.2 billion according to the Australian Financial Review.

It has been reported that the auction for TEG, which was acquired by Asia-based private equity firm Afinity for $640 million in 2015, will be launched before the end of the year.

The Australian Financial Review suggests TEG could attract the interests of eBay, Eventim, Amazon and Telstra, each of whom could be attracted by Ticketek’s database of 12 million consumers and annual ticket sales of 23 million to more than 20,000 events each year.

TEG recently set its sights on growth in Asia through the appointment of Ticketek’s New Zealand Chief Executive Brendon Bainbridge appointed Managing Director of its new division in the region.

Bainbridge explained “there are so many opportunities opening up in the Asian entertainment market

“I have complete confidence that TEG has the knowledge and technology platforms to make a big impact.

“This is a great export story about taking the know-how developed in Australia and New Zealand and competing on a global stage. I am thrilled to have this opportunity and I thank Geoff for his confidence in me.”

Ticketek has acquired Malaysia’s top ticketing company, TicketCharge, in July.

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