"For a long time, we have admired and appreciated the unique and important contributions that 1Ticket makes to the secondary ticketing market. Jason and his team have done an amazing job in creating and nurturing a strong brand, and providing a truly valuable offering to the ticket broker community," says DTI Founder and CEO, Curtis Cheng. "It was an especially perfect time for us to pursue this acquisition, since DTI is currently in the process of redesigning and rebuilding our core product—the DTI platform. As anyone who knows me will tell you, I am always looking to partner with the best players in our industry—to improve the offering to our clients."
Founded in 2010, 1Ticket automates the most time-consuming parts of being a broker, including managing and delivering PDF tickets, creating purchase orders, placing holds on tickets and delivering barcodes. 1Ticket updates inventory in near real-time around the clock.
As a result of this acquisition, the two companies will now have more than 100 employees in the aggregate, and will work together to improve the existing 1Ticket-to-DTI integration. At the same time, 1Ticket will continue to service the ticket broker community on a stand-alone basis, independently of any one marketplace or point-of-sale.
"1Ticket has been integrated with DTI since the DTI platform launched in 2012," says Knieriem. "Joining DTI was the logical step to provide 1Ticket with the capital and resources needed to offer better technology and more innovative products to our clients—no matter which platform they use."
For the foreseeable future, each company will continue to operate separately, as they have done in the past. Knieriem will continue to run 1Ticket from its headquarters in Beltsville, Maryland.
Last October, DTI received a combined $75 million investment from CVC Capital Partners and New Amsterdam Growth Capital.
About DTI Management
Established in 2012 and based in Alexandria, Virginia, DTI Management (www.dtimanagement.com) streamlines the distribution of live event tickets through the secondary market, and provides a more controlled and profitable selling environment. At the heart of DTI's business is its proprietary software platform, which efficiently manages the full life cycle of ticket distribution, from listing to sale to fulfillment. This unique technology solution enables DTI's ticket broker-clients to reduce their overhead costs, and provides them with enhanced logistics, real-time data analytics, dynamic pricing, revenue sharing and enhanced marketing strategies. DTI was recently recognized by the Washington Business Journal as one of the 50 Fastest Growing Businesses.
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SOURCE DTI Management