London-based ticketing, streaming and merchandise platform Dice has acquired Boiler Room.
According to RA, sources at both companies have confirmed the deal. However, neither Boiler Room nor Dice have publicly announced the acquisition, the sum of which is also unknown at this time. RA‘s sources also claim that Boiler Room, which launched in 2010, will retain its full team of staff as well as its east London office.
Dice’s most recent investment comes from Softbank Vision Fund 2, which is financed by the publicly listed Japanese technology company Softbank. Softbank does not receive any external funding. Dice’s additional investments have come from former Apple executive Tody Fadell’s Future Shape investment and advisory firm, alongside Mirabaud Private Equity, Cassius and Evolution, among other firms. Fadell – who co-invented the iPhone and the iPod – is also joining the Dice board, with the company set to use the funding for expansion purposes, and to move into the live stream sector.
Phil Hutcheon, founder of DICE, said: “I’ve been a fan of Boiler Room for years and they’re world leading in bringing incredible experiences to fans. Blaise [Boiler Room CEO] and I have been discussing for over a year how to support artists better and the more we spoke, the more excited we were to work together. The combination of Boiler Room with the distribution and technology of DICE creates substantial opportunities in a sustainable, transparent and fair model.”