Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Groupon Completes Ticket Monster Acquisition

RELATED NEWS
Trade GRPN now with 

Groupon, Inc. (GRPN: Quote) 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.

Click here to receive FREE breaking news email alerts for Groupon, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks moved sharply higher over the course of the trading day on Tuesday, extending the recovery from the sell-off seen in recent weeks. The Nasdaq and the S&P 500 closed higher for the fourth consecutive session but remain well off their mid-September highs. Despite indications that the spread of Ebola inside the U.S. has been contained, the results of a new Gallup poll show the deadly disease had made its debut on a list of the top 10 most important problems facing the country. In another hotly contested Senate race, the results of a new Suffolk University/Boston Herald poll show incumbent Sen. Jeanne Shaheen, D-N.H., clinging to a narrow lead over Republican challenger Scott Brown.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.