February 2018
iTech Capital exited Ticketland via a strategic sale to MTS
iTech Capital Fund and a group of co-investors, including entrepreneur Sergey Solonin (QIWI), sold their stakes in Ticketland, Russia’s leading ticketing operator, to MTS.
The deal amounted to Rouble 3.25 billion. Internal rate of return for investors of the fund taking into account interim dividends is estimated at the level of 38%.
iTech Capital invested US $ 10 million to create of one of the largest ticketing holdings in Eastern Europe in early 2013, when it bought out Moscow network of theatre box offices from the Moscow government. The purpose of the acquisition was to consolidate assets in the ticketing industry. The holding company further acquired "United Art Tickets" (operator for the sale of theatre and concert tickets) and Arena, sports ticketing processing company.
Today Ticketland is the leading player in the market of ticket sales for events in Moscow, St. Petersburg, Kazan and Sochi. In 2017, the Company sold more than 3.5 million tickets, while the company’s turnover was about Rouble 6 billion. The Holding is ranked on the 20th place in the list of the largest Internet companies in Russia in 2017.
Quote from Sergei Solonin (ex-owner of 57.6% of stake in Ticketland) "Ticketland sale to MTS holding will give a new driving force to the development of ticket operators. Through access to new channels of content delivery and technology of MTS, the leading telecom operator of Russia, Ticketland will significantly increase its user base, while customers will get a simple and fast access to services. This precedent will substantially change the interaction of such services with the end user".
iTech Capital Team initiated the transaction and led the sales process. According to Managing Partner of iTech Capital Gleb Davidyuk: "exit from Ticketland brought to investors of iTech Capital the expected level of profitability. The Fund actively participated in the main processes related to strategic management of the Company, which ensured the rapid growth of key indicators. Thanks to the professional team of managers led by Vitaly Vinogradov, operational efficiency of the business and leading positions on the market, Ticketland’s performance has always allowed shareholders to have a significant dividend yield without compromising company’s growth. Separately I would like to mention the colleagues from MTS, who effectively and timely conducted a complex and interesting transaction".
Ticketland CEO Vitaly Vinogradov said "Ticketland.ru will continue its activities as an independent organization. We will seek synergies with MTS in areas of interaction such as marketing, data science, personnel training and creation of new services ".
iTech Capital invested US $ 10 million to create of one of the largest ticketing holdings in Eastern Europe in early 2013, when it bought out Moscow network of theatre box offices from the Moscow government. The purpose of the acquisition was to consolidate assets in the ticketing industry. The holding company further acquired "United Art Tickets" (operator for the sale of theatre and concert tickets) and Arena, sports ticketing processing company.
Today Ticketland is the leading player in the market of ticket sales for events in Moscow, St. Petersburg, Kazan and Sochi. In 2017, the Company sold more than 3.5 million tickets, while the company’s turnover was about Rouble 6 billion. The Holding is ranked on the 20th place in the list of the largest Internet companies in Russia in 2017.
Quote from Sergei Solonin (ex-owner of 57.6% of stake in Ticketland) "Ticketland sale to MTS holding will give a new driving force to the development of ticket operators. Through access to new channels of content delivery and technology of MTS, the leading telecom operator of Russia, Ticketland will significantly increase its user base, while customers will get a simple and fast access to services. This precedent will substantially change the interaction of such services with the end user".
iTech Capital Team initiated the transaction and led the sales process. According to Managing Partner of iTech Capital Gleb Davidyuk: "exit from Ticketland brought to investors of iTech Capital the expected level of profitability. The Fund actively participated in the main processes related to strategic management of the Company, which ensured the rapid growth of key indicators. Thanks to the professional team of managers led by Vitaly Vinogradov, operational efficiency of the business and leading positions on the market, Ticketland’s performance has always allowed shareholders to have a significant dividend yield without compromising company’s growth. Separately I would like to mention the colleagues from MTS, who effectively and timely conducted a complex and interesting transaction".
Ticketland CEO Vitaly Vinogradov said "Ticketland.ru will continue its activities as an independent organization. We will seek synergies with MTS in areas of interaction such as marketing, data science, personnel training and creation of new services ".