 "BookMyShow acquires Hyderabad-based MastiTickets")
BookMyShow has acquired Hyderabad-based online ticketing platform, MastiTickets, for an undisclosed sum, a move aimed at consolidating its presence in Andhra Pradesh and Telangana.
The acquisition will include transfer of MastiTickets' key assets along with existing cinema partnerships to BookMyShow, BookMyShow CEO and co-founder Ashish Hemrajani told PTI.
He, however, declined to comment on the deal size.
Founded in 2014 by Ravi Narla, MastiTickets has a strong presence in Andhra Pradesh and Telangana and currently works with over 120 cinemas.
"The acquisition will help us further consolidate our position and strengthen our footprint. We work with 530 cinemas in these two States and have added 175 of these in the last 12 months alone," he said.
MastiTickets has a very small team of about 7-8 people, who are likely to be transferred to BookMyShow's team.
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"We have charted an aggressive growth plan to increase BookMyShow's reach and presence and the acquisition of MastiTickets fit perfectly into its expansion strategy. Hyderabad, particularly has been a high performing market for us," he said.
He added that the region has an interesting entertainment consumption with preferences across genres and languages.
BookMyShow had acquired Chennai-based online ticketing player TicketGreen in 2013. In 2015, it bought a majority stake in Bengaluru-based social media analytics start-up Eventifier and Chennai-based fan relationship management (FRM) solutions provider, Fantain Sports last year.