Web18, the Internet arm of the TV18 Group has acquired around 60% stake in movie and entertainment ticketing company Bigtree Entertainment for $3-4 mn. Bigtree Entertainment is a comprehensive entertainment ticketing applications and solutions provider and services across 35 cities in India. The company provides ticketing applications to cinemas and entertainment venues via a complete suite of software products like box office ticketing, concessions management, web ticketing, loyalty management software, film programming, bar code ticketing, voucher management and others. Bigtree provides the necessary software, processes, systems, door delivery options, cash collection, warehousing and accounting services. It currently handles over 2.5 mn ticketing transactions annually for all major exhibition chains across the country.
The latest acquisition strengthens Web18's position in the e-transactions space, both on the PC as well as mobile phones. It had acquired a significant stake in travel portal Yatra.com and placement portal Jobstreet.com India a few months ago. Web18 already owns popular portals like cricketnext.com and products comparison site compareindia.com.
Read the article in Business Standard and The Economic Times.
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