Silver Lake Acquires Australia’s TEG — With Big Plans to Broaden the Operation

Earlier today (October 4th), Silver Lake, which is a technology investment company based in Silicon Valley with more than $43 billion assets under management, acquired TEG, which is one of Australia’s largest ticketing and live performances companies.

TEG has headquarters in Syndey and operations around the world. The entire senior staff of TEG, including its CEO Geoff Jones, will remain in place. They will also continue to hold equity interests in the new corporate structure.

More than 135 venues use TEG as their ticketing provider. According to TEG, these venues collectively sell more than 30 million in tickets for more than 300 events in over a dozen countries. These events include music concerts, sports, festivals, theater, and exhibitions.

The company also promotes more than 100 of its own shows every year. These shows have included musical artists such as Katy Perry, Eminem, and Guns N’ Roses.

This could be an interesting late-stage capital play.

Jones commented on the deal by saying that Silver Lake is the “right partner” to take the company to its next stage of growth. He noted that his firm brings in-depth technological expertise to the table, as well as know-how related to content and live events.

Stephen Evans, who is the managing director of Silver Lake, also commented on the deal. He said that they can help expose TEG’s platform, which integrates content, ticketing, analytics and digital marketing, to more customers across the world. He added that his company was impressed by how TEG has grown under the leadership of Jones.

The terms of the deal were not announced. It is expected to become finalized some time before the end of the year, after the Australian Foreign Investment Review Board has completed its review of the acquisition.

Advising Silver Lake on the deal was Corrs Chambers Westgarth and Latham & Watkins. King & Wood Mallesons and Goldman Sachs advised TEG.