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Business News Deals Live Business
MJR acquired by Australian live firm TEG
By Chris Cooke | Published on Tuesday 27 August 2019
Bristol-based venue operator and concert promoter MJR has been acquired by Australian live entertainment firm TEG. As a result of the deal MJR will be rebranded TEG UK, as part of the Australian outfit’s bid to grow its global presence beyond Asia Pacific.
Confirming the transaction, TEG boss Geoff Jones says: “TEG is already Asia Pacific’s leading ticketing, live entertainment and technology business and this acquisition marks a significant step towards TEG becoming a global live entertainment powerhouse”.
MJR, he said, was “a great fit for TEG” with its “strong management talent and a clever live entertainment model to which TEG can add ticketing, analytics and digital capability. [It] also brings significant additions to our venue portfolio”.
Although headquartered in the UK, MJR has promoted shows in multiple countries and has a formal presence itself in Australia. Its CEO, Richard Buck, says of the new deal: “We are very excited by this venture and the enhanced business opportunities brought by TEG”.
He added: “We’ve worked hard to scale the business over the last five years and this next step in our evolution will further strengthen our position in the market. Both companies are digitally-focused and this synergy allows both parties even more leverage by combining each other’s tech expertise and insights to best connect with live entertainment fans”.
