Concert promotion giant Live Nation has acquired the remaining assets of Songkick and settled the ongoing legal battle between the two companies.
Songkick sued Live Nation and its subsidiary Ticketmaster in 2015, alleging the firms “exploited their monopoly power” by engaging in anti-competitive behavior.
According to The New York Times, the lawsuit stems from Ticketmaster hiring a former Songkick employee, who would then secretly go onto access Songkick’s network while employed at Ticketmaster and quietly monitored the company’s sales and clients.
“We are pleased that we were able to resolve this dispute and avoid protracted and costly legal proceedings, while also acquiring valuable assets,” Live Nation’s president shared in a statement with the Times. Live Nation also stated in a press release that it’s acquired CERG’s “ticketing commerce platform, anti-scalping algorithm, API applications, and patent portfolio” for an undisclosed amount.
The two parties reportedly settled for $110 million.