Broker Genius and Seat Scouts announced that they have entered into a merger agreement in which Seat Scouts and its employees will become part of the Broker Genius Team. Sam Sherman and John Lucier will continue to be the company's CEO and CFO respectively. Drew Gainor, CEO, and founder of Seat Scouts will become the company's new Chief Product Officer. The combination will offer customers a best in class, all-in-one platform that enables them to process, price, distribute, and analyze their ticket portfolios.
Sam Sherman, CEO, and founder of Broker Genius said, "By bringing our companies together through this merger, we are creating an even stronger platform for our clients. The combined business will have tremendous cost and technology synergies and will enable accelerated innovation. Drew and I have spent much of the last 4 months to get this merger done and I look forward to working together on our exciting roadmap."
Broker Genius provides leading-edge ticket pricing technology and data analytics that help ticket sellers maximize revenue and efficiency. Seat Scouts, founded in 2017 by Drew Gainor, offers full order processing and fulfillment services in addition to pricing software capabilities. There are 25 employees in the combined organization.
Drew Gainor, CEO, and founder of Seat Scouts said "We are very excited to be joining the Broker Genius team. Combining our industry-leading products, Uptick, Atlas, Sync, and Event Watcher will guarantee our platform fits the needs of every ticket reseller. Now, more than ever, this industry needs a unified platform that can provide maximum efficiency to our clients' ticket operations. Our team is committed to continuing to provide the same industry-leading innovation and service our clients have grown accustomed to."
"This is the rare type of transaction that should excite investors, clients, board members, and employees alike," added Guy Levy-Yurista, Ph.D., Chief Strategy Officer at Sisense, and a Broker Genius board member. "Being able to bring together two organizations that can offer a combined experience that will delight their customers while increasing shareholder value is not something that happens every day. Together we will be targeting the entire value chain in the multi-billion $'s events ticketing market that has just undergone a major disruption due to the COVID-19 pandemic and jointly help rebuild this industry."
"This strategic combination positions us to emerge as the market leader in automation technology for the live event industry," said John Lucier, CFO of Broker Genius. "With software playing an increasingly important role in ticketing, this merger will provide unparalleled value to our customers by reducing complexity and streamlining operations through our end-to-end pricing and processing technology."
The companies will immediately start working on their 2021 product road map which includes brand new products as well as launching an all in one solution. They expect to have more exciting announcements over the next few months.
About Broker Genius:
Founded by Sam Sherman in 2013, Broker Genius now services over 400 customers and has powered over $3 billion in ticket sales. The company's mission is to help clients maximize profits through an all-in-one platform by optimizing revenue and lowering operating costs.
