Christopher BarrettUS-based ticket service Lyte confirmed it has acquired Festicket, Event Genius and Ticket Arena assests, and that it is working to reconcile affected promoter clients following Festicket’s demise.
The company issued a statement in which it said its focus throughout the acquisition process has been on protecting Festicket’s employees and its clients: “With administrators now undertaking the relevant processes for vendors and clients of Festicket, Lyte is committed to finding ways to reconcile and rebuild with affected promoter clients for the exciting future ahead.”
Lyte said it had contacted all former Festicket clients and some have signed up with Lyte, including Slammin Events in the UK and Vic Falls Carnival in Zimbabwe.
Founded in 2013 by chief executive Ant Taylor, with backing from investors including the famed artist and producer Quincy Jones, Lyte has partnered with hundreds of tours, events and festivals including Coachella, Newport Folk Festival, Life Is Beautiful, Pitchfork Music Festival, BottleRock and Baja Beach Fest.
Lyte’s chief commercial officer Lawrence Peryer said, “With the assets we have acquired in this transaction – and all of the new team members in the UK, Europe and Australia who we welcome as part of it – we are bringing global opportunities to our existing employees and partners while extending an offer of access to our alternate universe to all promoters, ticket platforms and fans worldwide. The future of live events is here.”
Taylor said the inspiration for launching Lyte came 10 years ago when he visited London for the 2012 Olympic games: “The events were sold out, there were no tickets on the streets but the venues were half-full. I was just a fan but that empty seats problem stuck with me and led me to start Lyte a couple years later. To be launching Lyte’s international expansion from the place where it all started, is truly special. Our company vision is to make the live events e-commerce experience magical for fans and event creators, the world over. This is a step in that direction. Now the real work begins.”
Festicket is currently being administered by financial advisory group ReSolve Advisory, which cancelled the company’s moratorium after it found it was no longer likely to result in the rescue of the company. ReSolve declined to comment on the acquisition.