Partner Article

Lo-Q makes £13.7m U.S. acquisition

British ticketing systems firm Lo-Q has made a £13.7m acquisition of the North American company, accesso LLC.

The business announced the deal on the London Stock Exchange on Wednesday, and said they recognise accesso as the leading provider of ticketing solutions across 100 venues in the US, Canada and Mexico.

Lo-Q designs, installs and operates ticketing and queuing systems for the public to make reservations at theme parks and other attractions, whilst accesso provides ticketing solutions for theme parks, water parks, zoos and cultural attractions.

The British buyer, who already owns subsidiary companies in America and Canada, said the transaction would help the firm access new routes to growth, using accesso’s wide reach, products, customer base and skilled employees.

Tom Burnet, chief executive of Lo-Q commented: “Both parties believe that this combination presents an excellent opportunity to build a trusted, proven and energetic supplier of scale across multiple Leisure markets.

“accesso’s customer base complements our own and our products and technologies will be hugely synergistic.

“Bringing these two businesses together will expand the opportunity for both of us globally and we firmly believe that the deal is an excellent use of Lo-Q’s cash, as we seek to grow the size, scope and potential of our firm. This is a very exciting day for the entire Lo-Q team.”

accesso’s chief executive, Steven K. Brown, said: “We’re thrilled to be joining the Lo-Q portfolio and look forward to offering our combined set of revenue-driving resources to attractions around the globe.

“Blending our unique and highly successful companies will allow us to jointly leverage the talent of both teams and our combined technological, mobile and operations expertise to develop next generation solutions to meet the rapidly changing needs of the attractions marketplace.”

This was posted in Bdaily's Members' News section by Miranda Dobson .