Investcorp buys Vivaticket as it expands its European investment portfolio

The deal with ticket software provider for Walt Disney and FC Barcelona is expected to close by the end of this year

Since 2001, Investcorp has invested more than $1.5bn in technology businesses worldwide. Courtesy Investcorp

Investcorp is acquiring ticketing platform Vivaticket as the Bahraini alternative investment manager continues to expand its portfolio of technology investments in Europe.

Investcorp signed an agreement to buy Ticket Holding, known as Vivaticket, with co-founders Luca Montebugnoli and Luana Sabattini, P4P International, Girefin Trust and Bravo Capital Partners, it said on Monday. The deal is expected to close by the end of this year, the company said, without disclosing the value of the transaction.

Vivaticket’s co-founders and management team will continue to remain involved in the business and hold "a meaningful stake in the company", Investcorp added, without specifying the shareholding.

Vivaticket provides ticketing software for leisure and entertainment, sport, culture and trade show industries. The company, which is headquartered in Bologna, Italy, has more than 2,100 clients across 50 countries including Walt Disney World, Musee du Louvre and FC Barcelona.

“As global demand for entertainment and experiential content continues to increase, Vivaticket is ideally positioned to capitalise on multiple growth opportunities that directly align with Investcorp’s investment expertise,” said Daniel Lopez-Cruz, head of Investcorp’s European Private Equity group. Investcorp will work with the Vivaticket team to support international growth, both organically and through add-on acquisitions, to expand its geographic footprint, he said.

Investcorp is keen on investing in services and technology and the Vivaticket deal is its third European investment of the year in the sector. In February, it acquired Cambio Healthcare Systems, one of Scandinavia’s leading suppliers of healthcare information systems, and in July it acquired product information management software company, Contentserv.

Investcorp, in which Abu Dhabi's Mubadala Investment Company holds a 20 per cent stake, has been on an acquisition spree as the company aims to double its assets under management over the next three years. Established in 1982, it is one of the oldest Middle East private equity companies and manages about $28 billion (Dh102.8bn) of assets across private equity, real estate, absolute return investments and credit.

In August, the company posted a 5 per cent increase in full-year profit on higher fee income and record deal placement activity. Net income for the 12 months ending June 30 rose to $131 million year-on-year despite a global economic slowdown and rising trade and geopolitical tensions, Investcorp said.