US-based ticket-selling platform Vivid Seats has acquired the Japanese live event ticketing marketplace Wavedash from Japanese private equity firm Advantage Partners, while South-Korean proptech company Dongnae is planning to acquire co-living platform operator Stevens.
Vivid Seats buys event ticket platform Wavedash
US-based ticket-selling platform Vivid Seats has acquired Japan-based live event ticketing marketplace Wavedash from Japanese private equity firm Advantage Partners.
Advantage Partners agreed to sell WD Holdings Co Ltd, the holding company of Wavedash, to Vivid Seats in a transaction which is expected to close in the third quarter of 2023. BDA Partners acted as the financial advisor for the deal.
“There has been increasing global interest to acquire Japanese companies in the tech sector and we expect the trend to continue,” said Jeff Acton, partner at BDA Tokyo.
Vivid Seats is an online ticket marketplace that has been the official ticketing partner by some of the biggest brands in the entertainment industry including ESPN, Rolling Stone, and the Los Angeles Clippers.
Dongnae buys co-living platform Dears
South Korean proptech company Dongnae is planning to acquire Stevens, which operates the co-living business Dears, TechCrunch on Tuesday.
The acquisition, which will be through a mix of cash and equity, is expected to be finalised by the end of September, added the report.
Dongnae will manage commercial spaces owned by Stevens and co-manage the Dears Myeongdong building in Seoul with property development firm Xi S&D.
Founded in 2020, Dongnae currently operates over 650 units in the Seoul Metropolitan area. The company has raised funding from US and Korean investors including NFX, DAOL Investment, Fursys, Han River Partners, Flybridge, and Maple.