UK-based ticketing and streaming company DICE has purchased Boiler Room for an undisclosed amount.

The deal comes amid a move from DICE into hosting ticketed live streams of events, and follows the company recently securing $122 million in investment from venture capitalist organisation SoftBank's Vision Fund 2. The fund was launched in 2019 to invest in technology start-ups.

Phil Hutcheon, founder and CEO of Dice, says: "I've been a fan of Boiler Room for years and they're world leading in bringing incredible experiences to fans. Blaise [Belville, Boiler Room CEO] and I have been discussing for over a year how to support artists better and the more we spoke, the more excited we were to work together. The combination of Boiler Room with the distribution and technology of DICE creates substantial opportunities in a sustainable, transparent and fair model."

Belville comments: "My experience when talking to Phil was inspiring and he immediately recognised how important Boiler Room is, and how much potential we have. 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. 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."

Resident Advisor reports that sources have said Boiler Room will retain its London office base as well as its full team of staff.