Published
Fri, Oct 1, 2021, 14:15
- The deal, which was confirmed to Resident Advisor by sources at both companies, arrives after DICE recently secured $122 million in venture capitalist investment.
UK-based ticketing, merch and streaming platform DICE has acquired Boiler Room for an undisclosed sum.
Confirmed to Resident Advisor by sources at both companies, the deal arrives as DICE moves into hosting ticketed livestreams of events. Sources say that Boiler Room will retain its full team of staff and its London office.
The news comes only days after DICE announced it had secured $122 million in investment led by venture capital giant SoftBank's Vision Fund 2, Billboard reports. 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.
The DICE funding came from SoftBank's Vision Fund 2, launched in 2019 to invest in technology start-ups.
"My experience when talking to Phil [Hutcheon, founder and CEO of DICE] was inspiring and he immediately recognised how important Boiler Room is, and how much potential we have," Boiler Room founder Blaise Belville said in a press release. "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. 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."
Correction: the original article included an incorrect reference to DICE's investment coming from SoftBank's original Vision Fund, which was set up by SoftBank and Saudi Arabia's Public Investment Fund in 2017, and has been amended.