In addition, TouchTunes supports a highly scalable digital out-of-home activation platform that provides targeted advertising and promotional opportunities for consumer brands. Music is the core of TouchTunes' experience, with millions of songs played daily across the network and a popular companion mobile app that lets anyone find nearby jukebox locations, create playlists, and control the in-venue music directly from their phone. TouchTunes' platform provides location-based digital solutions that inspire social interactions through shared experiences. TouchTunes is the largest in-venue interactive music and entertainment platform, with its connected jukeboxes featured in more than 59,000 bars and restaurants across North America and 6,000 in Europe.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in early April. LionTree Advisors served as exclusive financial advisor to TouchTunes and its shareholders on the transaction. We would also like to thank both Searchlight and Newlight for their partnership and guidance over the past few years.” We look forward to working with TA to build on our strengths and drive new opportunities. “TA is an ideal partner for TouchTunes moving forward as we look to continue our growth, offering the experience and resources we need to accelerate expansion of TouchTunes’ network, audience and markets. “TouchTunes has succeeded by delivering innovative, shared music experiences that inspire emotional connections,” said Ross Honey, TouchTunes President and CEO. We are excited to invest in TouchTunes at this moment in its growth and look forward to partnering closely with the TouchTunes management team.” “TouchTunes has already established itself as a market leader, but we see opportunity for continued innovation and expansion. The company’s continuous innovation, strong relationships with venues and jukebox operators, and skilled management team all help to deliver the desired experience for customers,” said Michael Berk, a Managing Director at TA. “TA is highly impressed with the deep commitment TouchTunes has to creating a high-quality music experience. TouchTunes jukeboxes also offer a variety of interactive experiences, including an integrated photo booth solution. Music selections can be controlled from the jukebox or smartphones through the company’s popular companion app, which also helps users find nearby jukebox locations. The company’s digital jukeboxes allow music lovers to choose the music that plays in their favorite venues, adapting over time to highlight the songs and artists most played in a location. TouchTunes has established a network of more than 65,000 connected digital jukeboxes in bars, brewpubs, restaurants and other social spaces across North America and Europe. Financial terms of the transactions were not disclosed. Partnering together, TouchTunes and TA aim to accelerate the company’s growth and innovation across existing and new markets.
(“Searchlight”) and Newlight Partners LP (“Newlight”). TouchTunes is headquartered in New York City, with offices in Chicago, Montreal, and London.BOSTON & NEW YORK-( BUSINESS WIRE)-TouchTunes, a leading in-venue, interactive music and entertainment platform, today announced that TA Associates, a leading global growth private equity firm, has signed a definitive agreement to acquire the company from funds advised by Searchlight Capital Partners, L.P. Our mobile app has been downloaded over 7 million times and lets users find nearby jukebox locations and control the music from their phones. Music is core to the TouchTunes experience and our smart jukeboxes allow the interface to learn from the music most played in a location and adapt over time to highlight the songs, artists and search results that are most relevant. We are the in-venue entertainment leader, pushing boundaries and creating growth opportunities for our customers and our locations. Our innovation story began in 1998 with the release of the world's first pay-for-play digital jukebox and since then, we have transformed into a multi-application platform offering a variety of engaging and interactive experiences. You can find TouchTunes jukeboxes in 75,000 bars, restaurants and other social spaces across North American and Europe. TouchTunes is a leader in in-venue entertainment providing music fans like you the ability to play your favorite songs at your favorite locations.
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