CTS Eventim in Bremen is acquiring 100% of Hamburg-based See Tickets Germany and Ticket Online Group.

The share purchase agreement and a 12-year exclusive ticketing contract with Stage Entertainment Germany were signed today (July 5).

Hamburg-based See Tickets Germany sells more than 20 million tickets a year.

See Tickets Germany was a member company of See Tickets International in Amsterdam; 40% was owned by Stage Entertainment BV and 60% by Parcom, a private-equity group.

By acquiring See Tickets Germany, CTS Eventim is simultaneously taking over Ticket Online Software GmbH, Ticket Online Sales & Service Center and Ticket Online Polska Sp zoo in Warsaw. The agreed purchase price is €145 million ($183.5 million).

In the fiscal year 2008/2009, See Tickets Germany and Ticket Online Group generated €40.2 million ($50.9 million) in revenue.

"In addition to the further enhancement of its market leadership and securing an attractive program of events, the acquisition provides CTS Eventim with substantial synergies, currently estimated at more than €15 million ($19 million) per annum in cost savings, primarily as a result of scale effects in ticketing operations," Volker Bischoff, CFO CTS Eventim, tells Billboard.biz.

"By making this acquisition, CTS Eventim has also secured exclusive ticketing access to the musical productions of Stage Entertainment, which has produced worldwide successes such as 'The Lion King,' 'Mamma Mia,' 'Tarzan' and 'Holiday on Ice,'" he added.

Bischoff said that more than 80 million tickets for over 100,000 events are sold by CTS Eventim annually in 20 European countries, using systems developed and marketed by the Eventim Group.

In the U.K., CTS Eventim launched on the national ticketing market on Feb. 1, 2010. Contracts to take over Ticketcorner, the leader of the Swiss ticketing market, were signed in Zurich on Feb. 19.