logo
Share SHARE
FONT-SIZE Plus   Neg

Groupon Completes Ticket Monster Acquisition

Groupon, Inc. (GRPN) said Thursday that it has completed the acquisition of Korean ecommerce company Ticket Monster for $260 million in cash and stock.

The Ticket Monster brand and leadership team will remain in place and continue to be led by Daniel Shin, CEO of Ticket Monster. The company will maintain its headquarters in Seoul, where it employs about 1,000 employees.

As announced on November 7, Groupon has acquired LivingSocial Korea, Inc., the holding company that owns Ticket Monster. LivingSocial Korea's Malaysian subsidiary was divested prior to close and is not part of this deal.

As per the terms of the agreement, the final allocation paid to LivingSocial, Inc. was $100 million in cash and $160 million in Groupon Class A common stock, subject to registration rights.

For the nine months ended September 30, 2013, LivingSocial Korea, Inc., excluding its Malaysian subsidiary, had gross billings of $572.7 million, revenue of $78.5 million and an operating loss of $38.7 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
IT services provider Computer Sciences Corp (CSC), on Tuesday reported a profit for the third quarter that also trumped estimates, helped largely by lower operating costs that offset 10 percent drop in revenues. Commenting on the results Mike Lawrie said, "In the third quarter, CSC successfully completed... Entertainment giant Walt Disney Co. (DIS) Tuesday reported an increase in first-quarter profit that also trumped Wall Street expectations, as revenues jumped 14 percent on stupendous performance of Star Wars: The Force Awakens. Burbank, California-based Disney's first-quarter profit rose to $2.88... Media conglomerate Viacom, Inc. on Tuesday reported a 10 percent decline in profit for the first quarter from last year, reflecting lower revenues in the Filmed Entertainment and Media Networks segments. However, adjusted earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates.
comments powered by Disqus
Follow RTT