Completion of Acquisition

RNS Number : 3781Y

Accesso Technology Group PLC

28 November 2014

 



28 November 2014

accesso Technology Group plc

("accesso" or the "Group")

Completion of Acquisition

accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to the global attractions and leisure industry, is pleased to announce that, further to the Group's announcement on 10 November 2014, it has completed the acquisition of VisionOne ("VisionOne") (the "Acquisition"), a leading, customisable cloud based Software-as-a-Service ("SaaS") ticket sales and distribution solution for the operators throughout North and South America.

Pursuant to working capital adjustments at completion, including an additional c.$2.7m of cash in the business at closing, the total consideration has increased to approximately $35.0m (initially US$33.0m). As a consequence of these adjustments, the stock consideration in respect of the acquisition will be increased accordingly and the Group will now issue a total of 1,519,364 New Ordinary Shares ("Stock Consideration"), representing 6.93% of the enlarged issued share capital.

An application will be made for the admission of 1,519,364 New Ordinary Shares, being the Stock Consideration, to trading on AIM ("Admission"). It is expected that Admission will become effective on 4 December 2014 and the New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue. Immediately following Admission, accesso will have 21,909,819 ordinary shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Group under the FCA's Disclosure and Transparency Rules.

VisionOne operates across North and South America. It owns and operates ShoWare™: an online ticketing sales and ticket distribution solution for the operators of attraction, event and entertainment venues: particularly those venues where assigned seating is a key component of the visitor experience. The ShoWare™ solution offers such venue operators the ability to run, manage, and retain a greater proportion of revenue from ticket sales to their events than would otherwise be the case by manual means or by traditional outsourcing methods.

ShoWare™ provides operators with a fully customisable, SaaS, white-labelled solution for their box office and eCommerce sales. The solution allows self-configuration and operation, and combines fully integrated internet ticket sales with marketing capabilities and the ability to analyse customer data to better target ticket promotions for future events. As with the accesso Passport® ticketing suite, the ShoWare™ solution is fully hosted and includes a PCI Level 1 compliant payment gateway alongside the ability to service both desktop and mobile ticket sales. ShoWare was also the first ticketing solution to enable ticket sales via Facebook.

VisionOne has to date completed more than 475 customer installations of its ShoWare™ solution. In 2013, across these installations, the ShoWare™ solution processed the sale of approximately 19 million tickets and in its US market in 2013, the total value of ticket sales transacted by the ShoWare™ totalled approximately US$335m.

For further information, please contact:

accesso Technology Group plc	[phone]
Tom Burnet, Chief Executive Officer
John Alder, Chief Financial Officer
FTI Consulting, LLP	[phone]
Matt Dixon, Lucy Delaney, Adam Davidson
Canaccord Genuity Limited	[phone]
Simon Bridges, Cameron Duncan, Brendan Gulston
Numis Securities Limited	[phone]
Etienne Bottari, Simon Willis, Mark Lander

accesso® Technology Group: about us

About accesso^® Technology Group

accesso (AIM: ACSO) is the premier technology solutions provider to the global attractions and leisure industry. Our patented and award-winning solutions drive increased revenue for attraction operators by significantly improving the most important part of an attraction visit: the guest experience.  Our solutions add value to operators at every point in the guest journey:

·      We drive attendance

The accesso Passport^® ticketing suite is a comprehensive, easy-to-use cloud solution that processes many millions of ticket and season passes every year, enabling operators to maximize up-sell and cross-sell with ease to drive greater revenue.

·      We handle payments

Our payment gateway carries level 1 PCI security certification and 24/7 support.  It provides the tools, security and support operators need to drive sales and has so far processed more than $5 billion in transactions.

·      We take guests out of line

Since 2001 over nine million guests have used a patented accesso LoQueue^SM solution to queue less, ride more, enjoy a better experience and increase  in-attraction spend.

·      We simplify point-of-sale

We offer a comprehensive point-of-sale solution through software modules that combine ticketing, membership, retail, food/beverage transactions, rentals, credit card processing and many other functions into a single system eliminating the need for separate systems and databases.

·      We increase engagement

accesso enables operators to engage more deeply and profitably with guests: pre-sale, in-attraction or post-visit.  Our mobile apps have provided more than 2.75 million people with rich iOS and Android content to better plan their visit, buy their ticket on-the-go and unlock new experiences within an attraction. 

More than 400 attractions worldwide currently employ accesso technology - from theme parks, water parks, cultural attractions and sporting events to ski and snow parks.  We are proud that our solutions are trusted by the majority of the leading names in the leisure industry, including Six Flags Entertainment, Cedar Fair Entertainment, Merlin Entertainments, International Speedway Corporation, Palace Entertainment, Compagnie des Alpes, and Herschend Family Entertainment.

accesso is a public company, listed on AIM: a market operated by the London Stock Exchange. For more information visit: www.accesso.com. 

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