AEG’s Los Angeles-based ticket-selling service Outbox AXS is merging with paperless ticketing system Veritix to create a combined entity of more than $2 billion in annual transactions.
The deal was announced Thursday at the Veritix Sports Facilities & Franchises Conference in Santa Clara.
The union brings together Veritix’s ticket management technology with the consumer-focused interface and ticketing platform of Outbox AXS — which includes features such as AXS invite (aimed at making ticket-buying for groups easier) and AXS Waiting Room (an attempt to give buyers a level playing field 30 minutes before tickets for an event go on sale).
Financial terms of the deal were not disclosed.
Outbox AXS was founded in 2011 by concert promotion giant AEG, Cirque du Soleil and industry veteran Jean-Francoys Brousseau as a rival to Ticketmaster. Cleveland-based Veritix, meanwhile, was founded in 2006 by Samuel Gerace and Cleveland Cavaliers majority owner Dan Gilbert; it and manages ticketing for dozens of venues along with teams from the NBA, NFL, NHL, MLS, AHL, Hockey Canada, NASCAR, NCAA and DI-III College Athletics programs.
The deal adds to Outbox AXS’s grip in the sports world. Already benefiting from AEG's being the largest corporate owner of sports teams in the world, the merger with Veritix will enable Outbox AXS to provide select ticketing service to almost 25% of NBA teams and one-third of all MLS teams, in addition to a presence in other domestic and international sporting events and franchises.
AXS is looking into talks about ticketing plans, including season tickets or partial-season tickets, for the Clippers and Lakers (both of which play home games at AEG’s Staples Center) for next season and beyond. The L.A. Kings, which also play home games at Staples Center, are expected to make the transition this year.
Bryan Perez, president and CEO of Outbox AXS, said of the deal in a statement: “This partnership is about more than ticketing. It’s about combining the best technology and services to create the only platform in the industry that engages with consumers beyond ticketing through every phase of the event lifecycle.”