Ticketmaster will acquire Songkick as part of settlement.
Ticketmaster has settled its lawsuit with Songkick, agreeing to pay the company's owners $110 million and acquire its remaining assets.
The settlement draws to a close a two-year legal battle between the two companies that began with claims of anti-competitive behavior and antitrust violations against Ticketmaster and later morphed into a wider case that included allegations that a former Songkick employee hired by Ticketmaster had secretly accessed Songkick's computer systems while employed at Ticketmaster and quietly monitored the company's sales and clients. Court documents show Ticketmaster viewed Songkick as a competitive threat that could disrupt the exclusivity system in North America that allowed Ticketmaster to have a dominant marketshare. The case was set to go to trial later this month in Los Angeles federal court.
Billboard reached out to Songkick and Ticketmaster and was told both companies would be commenting in a joint statement.
"We are pleased that we were able to resolve this dispute and avoid protracted and costly legal proceedings, while also acquiring valuable assets,” said Live Nation president Joe Berchtold in a statement.
“We are glad to have resolved this litigation and thank all the employees, artists and industry partners who contributed so much to our many successes over the last decade,” said Songkick CEO Matt Jones.
As part of the settlement, Ticketmaster acquired Songkick's ticketing commerce platform, anti-scalping algorithm, API applications and patent portfolio.