BOCA RATON, Fla. & ATLANTA--(BUSINESS WIRE)--Logitix (or the “Company") announced today that it has completed the sale of the Company to Victory Live, a ticketing technology platform. Logitix was previously owned by private equity firm ZMC.
Logitix provides comprehensive ticket inventory management solutions to help sports properties, performing arts operators, venues, promoters, other rightsholders, and resellers optimize ticket sales and revenue through dynamic pricing and distribution services. Victory Live is a technology platform focused on sports and entertainment, event management, data and ticketing software.
“We are very proud of what we have built over the past several years with ZMC’s support,” said Stu Halberg, Chief Executive Officer of Logitix. “We see immense benefits and significant growth opportunities through this new partnership. The combination of Victory Live’s impressive team, blue-chip partners, and investments in technology will play a valuable role in expanding the opportunities we have developed at Logitix, providing us with the scale and global footprint we need to achieve our vision and ensure long-term growth.”
“We are thrilled to welcome Logitix to the Victory Live platform and believe that the acquisition represents an opportunity to accelerate growth and drive value for live events rightsholders, professional ticket resellers and affiliate partners,” said Curtis Cheng, President of Victory Live. “We have enjoyed a long-standing commercial relationship with Logitix over the years, and we look forward to bringing the Company into the fold as part of our unified and integrated organization.”
ZMC’s partnership with Logitix began in 2018 following a targeted search for businesses poised to benefit from the growing sophistication of the ticketing ecosystem. Logitix has achieved significant expansion under ZMC's ownership, executing strategic acquisitions and institutionalizing operations to meet customer demand. ZMC helped guide Logitix through the pandemic after the live event industry was brought to a standstill in 2020.
“We take great satisfaction in how Logitix persevered through the pandemic and emerged as a leading player, driven by an outstanding management team and a talented group of employees,” said Jordan Turkewitz, ZMC’s Co-Chief Investment Officer and Managing Partner. “When we began our partnership, Logitix was a founder-owned business with a unique technology around ticket pricing. Today, it is a global thought leader within the ticketing ecosystem, addressing the entire lifecycle of a ticket from rightsholder to consumer. We feel fortunate that we had the opportunity to work with the Company during this phase of its growth and remain excited about Logitix’s prospects."
Logitix offers a variety of live event ticketing products and services. In addition to inventory management through its Logitix One platform, Logitix also was the first to market with an Open Distribution product, integrating primary ticketing platforms with alternative marketplaces allowing for simultaneous primary and secondary inventory listings. Logitix also offers automation tools for professional resellers, a suite of APIs bringing ticket inventory to new distribution channels in the travel, hospitality, and loyalty industry, and a data product delivering live event ticketing insights to numerous customer segments.
Evercore served as financial advisor and Lowenstein Sandler served as legal advisor to Logitix. BofA Securities and Moelis & Company LLC acted as financial advisors and Sidley Austin acted as legal advisor to Victory Live.
About ZMC
ZMC is a leading private equity firm comprised of experienced investors and executives who invest in and manage a diverse group of media, entertainment, communications and technology enterprises.
Founded in 2001, ZMC's investment philosophy centers on operational value creation driven by targeted investment themes, deep sector expertise, and strong partnerships with industry and operating executives. ZMC approaches its investments in collaboration with management teams and has a successful track record of actively adding value to portfolio companies. For more information, visit www.zmclp.com.
About Logitix
Logitix is the preeminent monetization engine and ticketing platform for the live event industry, combining optimized pricing, distribution, and inventory management with real-time insights to help sellers and buyers respond to a rapidly changing market environment. The Logitix vision is to automate the entire ticket life cycle and provide data-driven insights to serve the diverse needs of its clients. For more information about Logitix, visit Logitix.com or find them on LinkedIn.
About Victory Live
Founded in 2021 and based in Atlanta, GA, Victory Live is a technology platform focused on sports and entertainment, event management, data and ticketing software that offers an end-to-end platform for the ticketing industry, managing thousands of sports and events tickets on behalf of both live events rightsholders and professional ticket resellers. More information is available at www.victorylive.com.
Contacts
Logitix
Eric Nemeth
602-502-2793
nemeth@ericpr.com
ZMC
Sheila Dharmarajan
dharmarajan@zmclp.com
Victory Live
Jennifer Hurson
845-507-0571
jhurson@lambert.com