Online ticketing portal BookMyShow has acquired Hyderabad based online ticketing platform MastiTickets for an undisclosed amount, wherein the acquisition will include transfers of all key assets along with existing cinema partnerships to BookMyShow.
The acquisition is largely targeting regional markets, specifically Andhra Pradesh and Telangana.
"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 and now with combined forces with MastiTickets, we are excited to offer a superior user experience. Andhra Pradesh and Telangana region has an interesting entertainment consumption mix. It represents diverse entertainment preferences in terms of both genres and languages, thus offering us huge growth potential," said CEO and co-founder BookMyShow, Ashish Hemrajani.
"MastiTickets' acquisition by BookMyShow was truly the next logical step for us and we are excited about its prospects. This definitely brings substantial value addition to our user base and cinema partners in the region who will now be able to immensely benefit from BookMyShow's ultimate product and service capabilities. It is widely known that BookMyShow has an exceptional track record of being disciplined with their business model and customer service; which not only made us more confident about this acquisition but also about the fact that there could not have been a better acquirer for MastiTickets than BookMyShow," said CEO and founder MastiTickets, Ravi Narla.
Earlier, BookMyShow had acquired Chennai based online ticketing player TicketGreen in 2013. It then acquired a majority stake in Bengaluru-based social media analytics start-up Eventifier in 2015 and Chennai based fan relationship management (FRM) solutions provider, Fantain Sports Pvt. Ltd. in 2016.
Disclaimer: No Business Standard Journalist was involved in creation of this content
