Monday, July 2, 2007

Ticketmaster To Acquire Paciolan

West Hollywood-based Ticketmaster, an operating business of Barry Diller's IAC, said Monday afternoon that it is in a definitive agreement to acquire Irvine-based Paciolan. Financial terms of the deal were not disclosed. Ticketmaster said it plans to operate Paciolan from its Irvine location, and that it will retain David Butler, the CEO of Paciolan and the company's current management team. Paciolan is backed by Technology Crossover Ventures, Argentum Capital Partners and Marwit Capital Company, and Comcast Spectacor.

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