Add-on Acquisition • Internet Software and Services

Vivid Seats Acquires Wave Dash

On August 4, 2023, Vivid Seats acquired internet software and services company Wave Dash from Advantage Partners for 10.9B JPY

Acquisition Context
  • This is Vivid Seats’ 2nd transaction in the Internet Software and Services sector.
  • This is Vivid Seats’ largest (disclosed) transaction.
  • This is Vivid Seats’ 1st transaction in Japan.

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M&A Deal Summary

Date August 4, 2023
Target Wave Dash
Sector Internet Software and Services
Buyer(s) Vivid Seats
Sellers(s) Advantage Partners
Deal Type Add-on Acquisition
Deal Value 10.9B JPY
Advisor(s) BDA Partners (Financial)
TMI Associates (Legal)

Target Company

Wave Dash

Tokyo, Japan
Wavedash operates a secondary ticket marketplaces for live events, concerts, sports, theater, connecting sellers and buyers safely online. Wave Dash was founded in 2014 and is based in Tokyo, Japan.
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Buyer Overview 1

Buyer

Vivid Seats

Chicago, Illinois, United States

Category Company
Founded 2001
Sector Internet Software and Services
Employees768
Revenue 776M USD (2024)
DESCRIPTION

Vivid Seats is an online ticket marketplace committed to becoming the ultimate partner for connecting fans to the live events, artists, and teams they love. Vivid Seats was founded in 2001 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 3 of 4
Sector: Internet Software and Services 2 of 2
Type: Add-on Acquisition 3 of 4
Country: Japan 1 of 1
Year: 2023 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 Betcha

New York, New York, United States

Betcha is a daily fantasy sports (DFS) app, features individual player performance props, with a simple-to-use interface complemented by social and gamification features. Betcha was formed in 2018 and is based in New York City.

Buy $25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-07 Vegas.com

Las Vegas, Nevada, United States

Vegas.com is a direct-to-consumer e-tailer of show tickets to over 200 shows in Las Vegas through www.vegas.com and www.lasvegas.com. The Company also offers travel and lodging bookings. Vegas.com was established in 1998 and is based in Las Vegas, Nevada.

Buy $240M

Seller Profile 1

SELLER

Advantage Partners

Singapore, Singapore

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 4.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Partners LLP is a Japanese private equity firm focused on investing public and private companies. Advantage targets businesses operating in the fields of distribution/retail, consumer products, manufacturing, telecommunications, IT/software and financial services. The Firm will consider a variety of transactions including corporate divestitures, acquisitions, buyouts, public to private, recapitalizations, and growth capital financings. Advantage Partners was formed in 1992 and is based in Tokyo.


Deal Context for Seller #
Overall 33 of 36
Sector: Internet Software and Services 1 of 1
Type: Add-on Acquisition 21 of 22
Country: Japan 31 of 33
Year: 2023 4 of 4
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-21 Nareru

Tokyo, Japan

Nareru combines the two technologies of IT and human resources development, that will provide and realize "business transformation to increase productivity" and "cultivation and stable supply of professional human resources" to compensate for the decrease in professional human resources. Nareru was founded in 2008 and is based in Tokyo, Japan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-01 Tsubaki Nakashima

Katsuragi, Japan

Tsubaki Nakashima is a manufacturer of precision balls, precision components, and ventilators. Tsubaki Nakashima was founded in 1934 and is based in Katsuragi, Japan.

Buy -