Lyte acquires assets of Event Genius following the fall of Festicket

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By Chris Cooke | Posted on Monday, September 12, 2022

Lyte – the platform that allows event promoters to manage ticket reservations and resale – has apparently purchased some of the assets of Event Genius, the provider of various ticketing tools which was acquired by Festicket in 2019.

The Lyte deal comes as Festicket itself heads into administration, a development that has apparently resulted in the Event Genius business being liquidated. According to TheTicketingBusiness, it sent an update to its partners on what’s been happening over the past week.

This update stated, “We can now tell you that an agreement has been reached with Lyte for the sale of certain company assets, including technology platforms and employee contracts. We are on track to close this transaction on Monday, September 12.”

“At the same time,” he continued, “we are in a process of winding up the existing business, which includes the appointment of an administrator to determine the sums that will be available to pay unsecured creditors and obligations of the promoter. You will hear more about this process from us soon.”

He then explained, “Going forward, Lyte will take over the operation and continue to provide our end-to-end event management technology – while also offering its platform – to all of our partners. In addition, Lyte is preparing a proposal for new agreements with them that include settling any money we owe you.”

LEARN MORE ABOUT: Event Genius | Festicket | Lyte

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