German live entertainment giant CTS Eventim has acquired French media group Vivendi’s ticketing business See Tickets, along with its festival division in a deal valued at €300m (£255m).

The deal, first reported in April, means that CTS Eventim now owns Vivendi’s See Tickets, which is the second largest ticketing platform in the UK and has a presence in other European markets including Germany, Netherlands, Belgium, Denmark, Portugal, Switzerland and Spain as well as the US.

The deal also includes a portfolio of festivals such as Kite, Love Supreme and Junction 2, which were overseen by its Vivendi Village arm.

Eventim said the ticketing and festival activities it has acquired via the deal had a turnover of €137m (£117m) last year. The ticketing activities represented approximately €105m (£89m) of this amount for an EBITDA of €26m (£22m). It said most of the revenue was generated in the UK, followed by the US market. The festival activities covered by the agreement generated an additional turnover of €32m (£27.2m)

Vivendi’s concert hall activities, including L’Olympia in Paris, as well as See Tickets France and the Brive Festival, are not included in the agreement.

Headquartered in the UK with offices in 10 countries including France and the US, See Tickets was acquired by Vivendi in 2011 for €96m (£82m). Among its many major event clients is Glastonbury Festival, which it has worked with since 1997 and provides the registration and personal ID system that prevents touting.

Discussing the deal in April, CTS Eventim CEO Klaus-Peter Schulenberg said, “The acquisition supports our internationalisation strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale. We look forward to collaborating with our new colleagues on shaping the future of live entertainment.”