CTS Eventim’s software gets first non-ticketing use
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CTS Eventim’s software gets first non-ticketing use

CTS Eventim is best known as a ticketing and live entertainment company – but now, news has broken that it will be trying its hand at something rather different. According to IQ Magazine, a trade journal for the live music industry, Eventim is 50% owner of a new company which will “collect traffic tolls in Germany, after securing a 12 – 15 year contract from the ministry of transport.”

CTS Eventim’s share price has soared by 10% so far in 2019

graph 10 eventim

Source: Yahoo Finance

The new company is a consortium, the other owner of which is Kapsch TrafficCom, which is a supplier of “electronic toll-collection systems”. It’s been awarded a 2 billion-euro contract for collecting the ‘infrastructure charge’ for passenger vehicles, which goes towards maintaining Germany’s roads. According to Eventim, this marks the first time Eventim’s tech will be used for an application outside the ticketing sector.

CTS Eventim’s CEO, Klaus-Peter Schulenberg, made the comment: “We thank the federal government for its confidence in our digital, customer-centred approach. At the same time, we greatly look forward to working with Kapsch TrafficCom to make this exciting project a success. We want to make the collection of the passenger vehicle toll as simple as possible for everyone.”

André F. Laux, Kapsch TrafficCom’s chief operating officer, added: “Germany’s network of highways is among the large and complex networks in Europe. This means that toll collection will naturally present challenges on many different levels. Our technical knowledge and extensive experience in operations and implementation coupled with CTS Eventim's expertise in sales and payment processing, means we have all the essential.”

The contract is for a 12-year period, with the option for a three-year extension.

Disclosure

Dominion holds CTS Eventim in its Global Trends Luxury Fund.


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