German promoter and ticketer CTS Eventim expands its business in Italy by acquiring 51 percent of Italian promoter Vertigo. 

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Andrea Pieroni - Vertigo

So far, the German company had only been present in Italy with its ticketing operation, after first acquiring a stake in Ticketone in 2007, and taking over the company in 2010. It now enters the country with its live entertainment segment too. Industry veterans Andrea Pieroni and his brother Stefano, who both established Vertigo, will continue to manage the day-to-day operation from Milan.

Vertigo will be fully consolidated within CTS Eventim parent Medusa Group, and CTS Eventim will have two seats on the Vertigo Management Board. Klaus-Peter Schulenberg, CEO of CTS Eventim, said Italy was “already one of the most important markets for our company.

So entering the live entertainment segment there is a logical step in our ongoing internationalization. I am all the more delighted by the fact that, by acquiring the stake in Vertigo, we are also taking on board a highly creative, fast-growing and superbly managed promoter.”

Medusa Group’s MD, Frithjof Pils, added, “the Italian live entertainment market offers us some excellent perspectives thanks to its creative diversity and high levels of demand. We want to extend our position there in the years ahead. The Vertigo takeover is the perfect launching pad, not least because we will benefit from the experience and the network of the Pieroni brothers.”

Andrea Pieroni said the partnership with CTS Eventim “will help us take the next step forwards in our development. We want to enlarge our portfolio even further over the next few years and offer a creative and service-centered base to different styles of artists from Italy and abroad.”