TICKETING, ANALYTICS and promoting company TEG is switching financial backer, after four years with Affinity Equity Partners.
Its new investor, subject to approval by regulators, is US technology venture capitalist Silver Lake, which has stakes in WME, the Madison Square Garden Company and Oak View Group.
“We are confident that Silver Lake is the right partner for the next stage of the company’s growth,” says TEG CEO Geoff Jones. “Silver Lake brings us deep technology expertise as well as important global entertainment content and live events expertise and relationships which will help us to accelerate the growth of our platform globally.”
Silver Lake say it’s preparing to invest further to accelerate TEG’s growth, but declined to comment at this stage as the deal is subject to approval from the Australian Foreign Investment Review Board.
TEG, which owns leading ticketing company Ticketek and promoter TEG Dainty, recently acquired UK promoter and venue operator The MJR Group (see Audience issue 235).