Incubator graduate sells to rival
Wellington company Dash Tickets, one of the first to go through business incubator Creative HQ, has been sold to a rival.
The Fortress Group, based in Dunedin, owns TicketDirect which was established in 1999.
Yesterday it announced it had acquired Dash Tickets, the company Nick Schembri co-founded as a student at Victoria University, for an undisclosed sum. It had been part owned by Ministry of Sound.
Dash provides ticketing services for events and organisations such as Wellington Cricket, Ellerslie Flower Show and Homegrown Music Festival. Schembri will stay on as the company's sales executive.
"The only real change is the further resources that Fortress and TicketDirect can provide - when people engage with Dash Tickets they will experience the unique talents of the Wellington team but also benefit from the resources of the wider group of Fortress companies," Schembri said.
It was looking at expanding to countries Fortress had links to, such as Canada and South Africa.
"Getting into other countries where volumes are high is a priority," Schembri said.
The company, which had 10 staff, was the first Creative HQ graduate to be sold.
"Creative HQ worked with the Dash founding team fresh out of university and this acquisition, the first for Creative HQ alumni, is another example of the Dash team taking their business to the next level," Creative HQ acting chief executive Tui Te Hau said.