Financial terms of the deal between Cast & Crew in Burbank and Team also in Burbank were not disclosed.
John Berkley, chief executive of Cast & Crew, said that his company and Team make an incredible combination.
“By joining forces, we are bringing together the talent, technology and expertise that will benefit each of our respective customers and enable the next generation of solutions for the next chapters of growth and transformation in our industry,” Berkley said in a statement.
Team will operate as a distinct brand in the Cast & Crew portfolio. It will remain under the leadership Greg Smith, who will transition from his role as chief operating officer to president of Team and report directly to Berkley. Cast & Crew will also hire Team Chief Executive Justin Kramer as a special advisor to the combined company focused on technology and product integration.
“Cast & Crew is the perfect home for Team, and we are thrilled to join the Cast & Crew family and its many well-recognized brands,” Kramer said in a statement. “Cast & Crew has an outstanding track record of bringing together the best people, products and solutions, which ultimately leads to better customer experience, service and support.”
Founded in 1992, Team (Tours Entertainment Advertising & Music), was a portfolio company of TorQuest Partners, a private equity firm in Ontario, Canada, and offers a comprehensive suite of software and services that supports the production of advertising, music and concert tours and live events industries.