Australian firm with Token RFID is latest addition
Patron Technology, an integrated ticketing solutions company, has acquired Ticketbooth, which owns the Token cashless RFID platform as well as Audiencetools, an automated social media marketing instrument.
Terms of the deal, which closed July 12, were not disclosed. This is the ninth acquisition for Pittsburg-based Patron. Ticketbooth is based in Sydney, Australia.
“Ticketbooth has been reselling ShowClix products (a previous Patron acquisition in July 2017) in Australia and New Zealand, and we thought they were a great fit for us,” said Patron Technology CEO Marc Jenkins.
Simon Guerrero, who leads Ticketbooth, will stay with the company, continuing as head of Ticketbooth, Token and Audiencetools, and will be the head of Patron Technology’s Australia and New Zealand operation.
“He’s expanding his mandate instead of shrinking it,” Jenkins said. “Everyone else is staying, too. If anything, we will be adding staff.”
Patron Technology is the product of a buy-build strategy by Providence Equity, which bought a majority stake in Patron in 2017.
“We are putting together an integrated suite of solutions for live event promoters,” Jenkins said. “Our vision is to bring integrated solutions to the market.”
Jenkins thinks Token and Audiencetools are keys to continued success for Patron.
“This will provide two really important tools event promoters have been clamoring for,” he said. “We already have the Token RFID capabilities integrated into ShowClix, and Audiencetools will help our media marketing tremendously. One of the most critical parts of the commerce side is the cashless RFID. We also will expand our presence significantly outside North America.”
Patron will continue the acquisition strategy that’s worked for it so far, said Jenkins.
“There are three components to Patron’s business model: commerce, engagement and operations,” he said. “We want to offer the top tech available in every one of those categories, and we will continue to pursue companies that have it.
“If you put it together in a holistic manner, you can gather a tremendous amount of fan and user data that can drive business intelligence and fan segmentation and fair marketing. The data out of cashless combined with the data out of ticketing, engagement and operations really gives you a 360-degree view of what’s happening at the event. This will drive increased revenue.”
Jenkins said that while every product is à la carte, clients who try one product will often try others. “Once the customer has a better experience, they are sold,” he said.
Patron has 350 employees. They provide the mobile app for over 350 festivals a year. “But we think there’s a broader application beyond festivals such as comic cons, pop-up museums, PACs and other spaces where there is a commerce aspect after entrance.
Patron clients include Coachella, ReedPop, the Osheaga Music and Arts Festival, Candytopia, Color Factory, The Complex, Ice Castles, the Juilliard School, Breeders’ Cup and Del Mar Thoroughbred Club.
Jenkins added that the company is experiencing significant growth, as are the clients who are using Patron’s technology.
“Our clients are selling more and at the end of the day, that’s what matters,” Jenkins added.