Entertainment firm Live Nation has announced the acquisition of the concerts and entertainment division of Tero Entertainment Plc based in Thailand.
The move signals the firm's growth within Thailand through its commitment to developing local talent, while continuing to bring the biggest international acts to the region, said Live Nation.
The acquisition builds upon the joint venture between Live Nation and Tero launched in 2015, when Live Nation Tero was created to promote international concerts and festivals by Western artists and bring in regional acts to Thailand.
Roger Field, president of Live Nation Asia-Pacific, said Tero Entertainment has local expertise in delivering outstanding experiences to fans and career growth for international and local artists.
"Our deepened partnership with Tero will expand our presence not only in Thailand, but also across the region," said Mr Field.
"We look forward to bringing an ever-growing and incredible roster of domestic and international talent to fans."
Since its establishment in 1998, Tero Entertainment has offered domestic touring, family entertainment, exhibitions, musicals and artist management within Thailand.
The company diversified regional content into established family entertainment activities, spearheaded by a strong relationship with the Disney on Ice franchise for more than 20 years.
Brian Marcar, managing director of Tero Entertainment, said the partnership with Live Nation has grown over the years and led to many benefits for international artists.
"Our vision is to grow the partnership to enable the same benefits for local talent so they can have the opportunity to develop on the international stage, helping both local fans and local artists," said Mr Marcar.
Neil Thompson, chief executive of Live Nation Tero and deputy managing director of Tero Entertainment, was similarly enthused.
"We are excited by the growth opportunities of the entertainment business under the one company," said Mr Thompson.
"This will not only increase the number of leading acts coming to perform in Thailand, but also give local artists the opportunity to work with a global company to manage their live touring in Thailand, the Asia-Pacific and the rest of the world."
