Ticketing platform DICE has acquired Boiler Room for an undisclosed sum

Ticketing platform DICE has acquired music broadcaster Boiler Room for an undisclosed sum.

The two companies have said they will work together to create a larger service for DJs and musicians -while also providing venues, festivals, collectives and organisers with "additional revenue".

The move comes after Billboard revealed that DICE had secured $122 million in funding from venture capital investors Future Shape, Mirabaud Private Equity and SoftBank's Vision Fund 2, a private fund set-up to invest in tech start-ups.

Read this next: New DJ Academy and web platform SEEDJ has launched

DICE CEO Phil Hutcheon welcomed the new partnership, stating he had been speaking to Boiler Room founder Blaise Belville “for over a year” on how to support artists better.

“The combination of Boiler Room with the distribution and technology of DICE creates substantial opportunities in a sustainable, transparent and fair model,” he added.

Belville added: “DICE has built an incredible platform by being laser-focused on creating the best possible experience for fans and event partners.

“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,” he added.

Read this next: How DJ diversity clauses can make dance music a better place

The Boiler Room board has now been updated to add DICE affiliates and has communicated its aims to expand into more nations and territories across the globe.

“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,” said Belville.

Gemma Ross is Mixmag's Digital Intern, follow her on Twitter