TEG, the global live entertainment and ticketing giant, has acquired a majority stake in Sydney-based three-year-old startup FAN+.
The terms of the deal have not been disclosed.
Founded in 2019 by former Sydney Kings CEO Rod Hary, FAN+ first gained momentum as part of the Qantas AVRO accelerator, and the following year the sports-focused HYPE accelerator.
FAN+ is a marketplace connecting sports fans with clubs and sports stars to purchase a range of experiences from coaching lessons to well wishes and . It is supported by VC Artesian and several senior Australian executives, including hotelier Dr. Jerry Schwartz, Pacific Equity Partners founder Rickard Gardell, Seven West Media’s James Warburton, Andrew Burnes, Greg Bundy, Scape Australia founders Craig Carracher and Stephen Gaitanos and Sydney Kings legend and Hoyts boss Damian Keogh.
Sydney-based TEG, the owner of Ticketek, was acquired by US private equity firm Silver Lake three years ago. CEO Geoff Jones said he is looking to expand its live content offerings from concerts, sporting events and theatre, and FAN+ is the next evolution of the company’s business model.
“At TEG, we believe nothing beats the live experience and to be able to personalize that live experience with a FAN+ moment is the perfect extension of our offering,” he said.
FAN+ integrates with Ticketek to add personalized FAN+ experiences such as behind-the-scenes tours, seats at pre-show sound checks, opening night launch parties, or the coin toss at the start of a match.
Harys said the acquisition will allow the company to scale and give fans access to a whole new world of personalized entertainment.
“The support of TEG, the scale of Ticketek and the leadership of Geoff Jones is a game-changer for FAN+,” he said.
“Being part of the TEG family means we can scale our offering in terms of audience reach and access some pretty amazing personalized entertainment options. Fans are in for some pretty special moments!”