Following the news that UK-based ticketing, merchandise and streaming platform DICE recently secured $122 million in venture capitalist investment, it has now been confirmed that it has acquired Boiler Room for an undisclosed amount. Sources say that Boiler Room will retain its full team of staff and its London office.
Another of the investors is Future Shape, the company run by former Apple executive Tony Fadell, who co-invented the iPhone. Fadell is also joining the board at DICE.
Since launching in 2010, Boiler Room has hosted over 8,000 performances by more than 5,000 artists across 200 cities. Dice launched its own live streaming platform last year, and sells event tickets in 147 countries.
Phil Hutcheon, Founder and CEO of DICE added: “the combination of Boiler Room with the distribution and technology of DICE creates substantial opportunities in a sustainable, transparent and fair model.”
“I believe deeply that the best way for Boiler Room to evolve is by partnering with a company that values what we are today, and provides the tools we need to grow into the future – we play to our strengths and they to theirs,” says Boiler Room founder, Blaise Belville. “DICE’s belief in ‘powering’ us but allowing Boiler Room to remain our own independent entity, all of this will enable us to move into a new era and be the best version of ourselves.”
The press release claims that this will enhance Boiler Room’s offerings and “drive additional revenue to artists, rights holders, collectives, festivals and clubs.”
