On Location, the event hospitality and experience firm controlled by Endeavor Group Holdings, has acquired ticketing software maker Qcue.
Endeavor finalized a deal in early 2020 to take a majority stake in On Location, which had originally been part of the NFL before being run by a group of privately held backers. Endeavor reportedly paid in the range of $650 million to $700 million.
Terms of the Qcue deal were not disclosed.
Qcue’s dynamic pricing software for sports and entertainment events will be integrated into On Location’s hospitality offerings across sports, entertainment and lifestyle categories.
“We are thrilled to join forces with Qcue, bringing top-of-the-line dynamic pricing technology and a stellar team of ticketing experts in-house,” On Location CFO Jon Lavallee said in a press release. “Together, we will optimize On Location’s approach to ticketing and pass that benefit on to our valued partners.”
Founded in 2007, Qcue provides sports teams and entertainment outfits with ticket pricing, analytics, data visualization, inventory management and efficiency tools. Its software and partnerships with ticketing platforms help rights holders optimize ticket pricing and maximize sales. In announcing the deal, On Location estimated that Qcue has made more than 35 million price changes, generating more than $300 million in incremental revenue for its partners.
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On Location offers corporate clients and others fans access to marquee events like the Olympic and Paralympic Games, Super Bowl, NCAA Final Four and New York Fashion Week. Its sports roster includes the International Olympic Committee (with upcoming Games in Paris in 2024, Milano Cortina in 2026 and LA in 2028); as well as NFL, NCAA, UFC and PGA of America. Its overall list of 150 entities also includes musical artists and festivals, as well as unique experiences owned by On Location.
“Integrating our talent and capabilities into those of the world’s leading experiential hospitality company is an incredible opportunity that will enable us to extend our services to the world’s foremost sporting and cultural events and their rights holders,” Qcue CEO Barry Kahn said. “We are proud to join the On Location team at this exciting moment in the company’s history and firmly believe that our shared vision of the live entertainment industry will allow us to continue to be at the forefront of bringing about change.”
After the transaction closes, Qcue will continue to operate out of its headquarters in Austin, TX.
Endeavor had its long-awaited initial public offering last spring on the New York Stock Exchange.
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