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Theme Park Supplier's News of the Week #12 Bolliger Mabillard, MAURER Rides, ETF Ride Systems, Lo-...
Theme Park Supplier's News of the Week #12
World Waterpark Association Success for WWA's 33th Symposium and Trade Show
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Record anniversary edition for Euro Attractions Show More than 8,500 attendees on a record exhibit floor
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CORPORATEPublished on January 28, 2014 NewsParcs to take an extended break
EVENTPublished on November 10, 2013 IAAPA Attractions Expo 2013 debuts next week in Orlando
CORPORATEPublished on November 10, 2013 Difficult season for Compagnie des Alpes' amusement parks
NEWPublished on October 21, 2013 Theme Park Supplier's News of the Week #12
NEWPublished on October 13, 2013 Theme Park Supplier's News of the Week #11
NEWPublished on October 13, 2013 Theme Park Industry News Roundup – Issue #6
581 articles published » See all articles

Welcome!

NewsParcs is an online trade publication dedicated to theme park industry professionals worldwide.

Since 1998, we work in direct contact with manufacturers, suppliers, consultants, owners and operators to publish only reliable and relevant information.

NewsParcs, connecting the theme park industry!

EAS 2013 NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.

Follow us on Twitter (@NewsParcs) from November 19 to 22 with the hashtag #IAAPA

Lo-Q acquires accesso to support multiple

growth opportunities

Update : 19:15 Published by François Mayné the 6 December 2012, Corporate.
Lo-Q, the leading supplier of virtual queuing system for theme parks, water parks and visitor attractions, announced yesterday the acquisition of accesso LLC, a leader of ticketing solutions for the attractions industry in North America. The transaction, amounting to $22 million (approx €16.8 million), creates the premier technology solutions provider in the attractions and leisure industry.


Both parties believe that this combination presents an excellent opportunity to build a trusted, proven and energetic supplier of scale across multiple leisure markets,” said Tom Burnet, Chief Executive Office of Lo-Q. “accesso’s customer base complements our own and our products and technologies will be hugely synergistic. Bringing these two businesses together will expand the opportunity for both of us globally and we firmly believe that the deal is an excellent use of Lo-Q’s cash, as we seek to grow the size, scope and potential of our firm. This is a very exciting day for the entire Lo-Q team.”

Based in Central Florida, accesso is recognised as the attractions industry’s leading provider of ticketing solutions offering a range of proprietary PCI Level 1, fully-hosted ticketing, ecommerce, mobile and payment processing solutions to more than 100 leading venues across the United States, Canada and Mexico. These past months, the company has signed with a number of large clients (including Palace Entertainment and Herschend Family Entertainment) and has extended a partnership with Six Flags Entertainment Corp. accesso is on track to process nearly $1 billion in transactions in 2012 and deliver more than 14 million print-at-home and mobile admission tickets for its clients.

Steve Brown, accesso's CEOWe’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, the Chief Executive Officer of accesso who will become COO of the new merged North American business and will join the Lo-Q Board of Directors. “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.”


Business stragegy


In a financial statement, Lo-Q’s Board of Directors explains that “the combination of accesso’s platform, products, customer base and skilled employees with Lo-Q’s existing operations and customer relationships will open up new routes to growth for the enlarged group as well as defend and deepen existing client relationships.”

Similar to Lo-Q, accesso has a strong track record of customer growth and customer retention and the acquisition will add a number of new ‘top 10’ worldwide operator names to Lo-Q’s existing relationships. In addition, accesso currently operates only in North and Central America, which presents the enlarged group with an opportunity to leverage Lo-Q’s existing presence in Europe and its partnership in Asia to expand sales of accesso’s products internationally.

accesso is a leader of ticketing solutions for the attractions industryaccesso’s product suite represents an important strategic bridgehead for Lo-Q into adjacent Leisure verticals, such as zoos and cultural attractions. These relationships and products will support Lo-Q’s stated ambition to move in to new verticals, expanding the range of opportunities open to the Company. It will also help to broaden and deepen Lo-Q’s potential market in areas that see less ‘seasonal’ revenue flows, thereby reducing, over time, the seasonality Lo-Q’s business currently demonstrates. Furthermore, the addition of accesso’s highly experienced management team which includes extensive expertise in the theme park and attractions market to the Company’s existing employee base will support and enhance Lo-Q’s continued expansion into the Leisure market.

At least, both organisations believe that the industry trend of convergence to mobile based solutions – with payment, ticketing, queue-line management and privilege and content – will become intrinsic to delivering a great guest experience. By combining accesso’s existing mobile product and its sales track-record in this area with Lo-Q’s increasingly successful Smartphone-based solution, the Board of Directors believe that Lo-Q will be better able to exploit the growth that this trend is enabling.

The acquisition of accesso 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.

Pairing accesso’s award-winning ticketing and e-commerce portfolio with our virtual queuing systems is a real game-changer and vaults us into position as the worldwide leader in revenue-driving solutions for the global attractions industry,” concluded Tom Burnet. “accesso’s technologies were a major draw for us, but the biggest factor in our decision was the company’s outstanding leadership and team of innovative employees dedicated to delivering world-class customer service and outstanding results for their clients.

NewsParcs will shortly publish an interview conducted with Lo-Q’s Sales and Marketing Director Danny Jennings about the latest company news.

For more information about Lo-Q and accesso, please read our related articles section below or visit www.lo-q.com or www.accesso.com

All Articles(613 articles found)

NewsParcs to take an extended break read more

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