|By Marketwired .||
|February 25, 2013 12:00 AM EST||
SEATTLE, WA--(Marketwire - February 25, 2013) - Festival Transaction Services Inc., a leading financial services company for the fair and festival market, today announced that it has acquired Vermont-based KadmusArts Corporation in a cash and stock transaction.
KadmusArts has developed a digital marketplace for the performing arts community that spans the globe. The KadmusArts event community includes some 8,500 event producers in 155 countries, tens-of-thousands of performers, and hundreds of thousands of festival fans. "KadmusArts was founded to enable arts festival producers, artists, and audiences to connect, exchange ideas, and discover new work," said Bill Reichblum, KadmusArts Founder and CEO.
Reichblum will become the head of community and content development for all FTS online media including KadmusArts.com, Festivals.com and FestivalFinder.com as Executive Vice President of Digital Media and Strategy for FTS.
FTS offers financial transactions services including card processing, ticketing, and an innovative prepaid card program that serve events, attendees and performers. "FTS has developed a unique set of services that benefit the event community and we are very excited to be able to bring those services to our users," said Reichblum.
"KadmusArts.com has become a leading source of information and inspiration and has developed a membership of more than 180,000 performing arts enthusiasts. They have created a benefit program that includes free tickets to events for registered members. FTS will offer these and additional benefits as part of its innovative new Festivals.com Visa prepaid card-ticketing program," said FTS's CEO, Charles Brown.
FTS operates www.festivals.com, the Number One free search return on Google, Bing and other major search engines for the keyword "festivals". More than 50,000 events have registered themselves on Festivals.com since it was launched in 1995. "The addition of KadmusArts to its digital media suite adds to FTS' leadership position," said Brown.
About Festival Transaction Services, Inc. (FTS)
FTS is an online-based cash management services company, focused on the global community events marketplace through www.festbiz.com. FTS has strategic partnerships with Visa Corporation and Bank of America Merchant Services, Inc. (BAMS) to provide credit and debit card services to community events. FTS is a unique service in the community events marketplace.
FTS operates Festivals.com, the largest Internet resource for information on community festivals, fairs and events, with more than 50,000 events in 100-plus countries classified by Arts, Children, Culture, Motorsports, Music and Sports. FTS also offers transaction services to the fair and festival community including card processing, ticketing, promotion and sponsorship sales support for events; promotion and processing for performers and vendors and Festivals.com VIP prepaid cards for attendees.
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