BaltCap backed Piletilevi Group, an international group of companies engaged in ticketing and event planning, announced the completion of the acquisition of Lithuanian ticketing services provider Tiketa. We had a chat with Sven Nuutmann, the CEO and shareholder of Piletilevi Group, to ask about the add-on investment and growth plans of the group.
What role does Tiketa play in the growth plans of Piletilevi Group?
Following a challenging year, the acquisition of Tiketa is a step towards planned expansion and digitalization of our group’s services portfolio. With the acquisition and product integrations, Piletilevi will significantly expand and strengthen its services. The unified platforms and market development will create new opportunities for numerous counterparts – consumers, event organizers, promoters, venues, and employees.
What are the next milestones for Piletilevi Group?
Piletilevi Group’s aim is to lead a rapid market recovery in live events businesses after the Covid-19 pandemic. Strengthening the organizational and digital capabilities in event management are the key triggers to innovation which, we believe, will bring customers and partners a better user experience, more quality events and therefore best value in the region.
What will you focus on in the coming years?
We plan to invest more than 5 million euros into our IT environment in 3 years, consolidating the three Baltic countries markets assets and efforts.
We will focus on building a unified software platform and digital marketplace development, which will create a basis for best consumer value, culture development and will also drive sustainability of the sector. For us it is important to remain close to the ticket buyer and provide high security, modern additional services and constantly improve user-friendliness.
The attention is on a user-friendly self-service environment for partners, integration of dynamic pricing, marketing and sales analytics. We build on many years of experience of Piletilevi Group, international know-how, and continuous research.
You recently announced that Lithuanian Competition council required post-completion merger filing concerning the add-on, why did this happen?
The Lithuanian Competition Council can use their discretionary power to ask for a post-closing merger filing, even if the deal does not exceed the set transaction thresholds (as in case of Tiketa). We will of course cooperate with the council and present the needed information and our views.