Johnnic eVentures buys TicketWeb

Johannesburg, 31 Jan 2001

As part of its R50 million expansion plan, Johnnic eVentures has acquired Internet ticketing service TicketWeb. The new addition will be jointly held with SA Investment Limited (SAIL).

The deal, which is still subject to Competitions Commission approval, is for an undisclosed amount, but is described by both SAIL and Johnnic as "not material".

The deal will see eVentures and SAIL each acquire 42.5% of TicketWeb. Management will hold the balance of 15%.

TicketWeb was sold out of the Africa Media Entertainment (AME) stable, which was not prepared to throw additional capital at the ticketing service.

AME reported an attributable loss of R33.9 million for the year to October 2000.

Johnnic and SAIL say they intend injecting ticketing inventory from their various entertainment and sports operations into the TicketWeb business.

Johnnic`s entertainment interests include the Nu Metro cinema chain, while SAIL holds an interest in eight of the 14 professional rugby companies in SA, along with other sports interests.

SAIL MD Nic van Gass says: "Ticket sales by the underlying sport brands is an important revenue stream for SAIL. Through TicketWeb`s strong ticketing brand and innovative distribution and technology platforms, SAIL`s sports brands and customers will receive better levels of service and convenience.

"Customer relationship management and loyalty initiatives will be actively pursued using TicketWeb as a platform."

"TicketWeb dovetails neatly into our existing Web initiatives, such as search portal Ananzi, and will add functionality and traffic," says eVentures CEO Neil Jacobsohn.

TicketWeb uses licensed software developed by US ticketing company TicketWeb, recently acquired by global leader TicketMaster. Jacobsohn says the new shareholders intend to explore a more active relationship with TicketMaster.