amati5 Sep 2016 16:37
Amati has been invested in Accesso since
2010 - the business has undergone a
significant transformation under Tom Burnet,
the CEO who was appointed in the same
year. Formerly known as Lo-Q, the company
specialised in renting handheld devices called
Q-Bots to visitors to theme parks. These
devices allow users to select a theme park ride
in order to be added to a virtual
queue. Instead of waiting in a physical line,
the guest can fill their time more productively
and enjoyably in the park before being notified
that their queue time has elapsed and walking
straight on to their chosen ride. This product
has proved popular with customers such as Six
Flags and Legoland, due to the benefits of an
additional revenue stream for the park
(Accesso shares revenues from the rental of
the devices with the theme park
customer) and the unlocking of 'secondary
spend', meaning increased revenues from food
and beverage locations. Accesso's range of
products has been enhanced through the acquisitions of three technology businesses, also serving the theme park market. The first
was called Accesso (hence the group name
change from Lo-Q to Accesso), a hosted online
ticketing solution. This was followed by the
acquisition of Siriusware, which provides
ticketing, ecommerce and point-of-sale (POS)
software for a variety of venues, including ski
resorts. The final acquisition was Showare,
which specialises in ticketing for smaller
venues such as sports arenas and
theatres. Since 2010, revenues have grown
from £20 million to £71 million and EBITDA
(earnings before interest, tax, depreciation and
amortisation) from £2.4 million to £7.8
million. Accesso is held in Amati VCT 2, TB
Amati UK Smaller Companies Fund and the
Amati AIM IHT Portfolio Service.
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