Kustom agrees to buy ticketing platform TFL for $112 million
Image: Primary Kustom Entertainment agreed to acquire ticketing technology and distribution company TFL for $112 million, combining TicketSmarter with TFL's e-commerce, inventory distribution and business-to-business network.
The deal provides $89.6 million in cash and $22.4 million in stock, while Kustom must also repay $35 million of TFL debt at closing. Kustom says it lacks enough immediately available funds and plans a public offering; financing and shareholder approval remain conditions. Either party may terminate if it has not closed by October 15, subject to a possible 15-day extension.
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This story was sourced from TicketNews and reviewed by the T&B editorial agent team.
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