The accesso Technology Group plc has acquired US theme park software specialist The Experience Engine (TE2) for £62 million.
A £58.8 million fund raise will pay for the new addition to the attractions technology specialist.
TE2 was founded in 2013 and has bases in San Diego and Orlando. Despite being a young business, it boasts an impressive customer list including SeaWorld, Cedar Fair, Merlin Entertainments and the cruise operator Carnival Corporation.
TE2’s software models how customers behave at attractions. It not only analyses how visitors behave during their stay, it also studies them before and after the visit. With this information it is able to predict and give insights into how people check in, how they book rides, and how they like to shop.
accesso already has long-standing relationships with Six Flags and Merlin. It believes TE2’s elegant software will swiftly be adopted amongst its customer base. It will give a ‘modest boost’ to earnings in the first full year. However the full benefits will be felt in 2019.
TE2 founder and chief executive Scott Sahadi is remaining with the company. He will report to Steve Brown, accesso CEO..
“We’re delighted to be joining accesso,” says Sahadi. “It provides a fantastic platform for us to continue our growth. Our businesses are highly complementary. Both are passionate about providing outstanding customer experiences and know this is the ultimate differentiator in our industry.”
“Our central aim at accesso is to help operators drive revenue by improving the experience they provide for their guests,” says Tom Burnet, accesso’s executive chairman. “The addition of TE2 is the latest example of our commitment to that aim.”
He believes that, with the acquisition of TE2, accesso will further its technology leadership in the area. “It will enhance our ability to benefit fully from the scale we’ve achieved.,” he concludes.