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Venue management company, ASM Global has invested in 25% of Sydney-based Stadium operator, VenuesLive.
ASM Global was formed from the merger of AEG Facilities and SMG. The partial acquisition is its first since the new entity was finalised earlier this week.
The stake was acquired by ASM Global from Techfront Australia. The deal sees it involved in the management of ANZ Stadium (soon to undergo a major refurbishment) and the 30,000-seat Bankwest Stadium in Sydney, as well as the 60,000-seat Optus Stadium in Perth.
As part of the deal, Chairman and CEO of ASM Global in the Asia Pacific region, Harvey Lister, will join the board of VenuesLive. However, the day-to-day business of the company will remain under the control of current directors and joint majority shareholders, Daryl Kerry and Steve Heytman.
Kerry, also VenuesLive managing director, said the investment by ASM Global would bring additional events to the stadia.
