The leader in virtual queue technology, and the leader in theme park ticketing solutions have joined forces as Lo-Q acquires Accesso in a £13.7m deal. The deal aims to harness the consumer demand for convenience.
“We’re thrilled to be joining the Lo-Q portfolio and look forward to offering our combined set of revenue-driving resources to attractions around the globe,” said Steve Brown, accesso CEO. “Blending our unique and highly successful companies will allow us to jointly leverage the talent of both teams and our combined technological, mobile and operations expertise to develop next generation solutions to meet the rapidly changing needs of the attractions marketplace.” Under terms of the deal, accesso will retain its Central Florida office and Brown, who also remains in Florida, will join Lo-Q as President and Chief Operating Officer of the companies’ combined North America business and will serve as a member of the Lo-Q plc board of directors. The acquisition takes place in the midst of a significant growth period for accesso as the company signed a number of large portfolio clients in the past 12 months and now serves more than 100 venues across North America. The company’s annual revenue has increased more than 130% over the past three years. accesso employs 44 full time staff and will process nearly $1 billion in transactions in 2012, including more than 14 million print at home tickets, and has delivered more than 1 million downloads of its native mobile content application for its clients. The acquisition is Lo-Q’s second major deal in recent months. In September, the company signed a partnership agreement with The Sanderson Group, an Australian multi-national business, to help spearhead Lo-Q’s expansion into the fast growing Asian market place.