India's largest online entertainment ticketing company BookMyShow on Tuesday announced acquiring Nfusion for an undisclosed amount in an all cash deal.
The announcements comes at a time when BookMyShow is redefining the movies and events ticketing space, and is well on its path to become the ultimate entertainment destination for users.
However, Nfusion was set up in Middle East in 2009 by Shoaib G.M. Khan, Sivagurunathan S and Prabhakar Reddy as a HD video-on-demand platform which allowed its users to stream videos online.
The deal will enable Nfusion's scalable tech solutions, especially CMS (content management system), to help BookMyShow foray into audio entertainment.
The acquisition not just provides BookMyShow a robust tech platform but also an experienced team which will provide a fillip to BookMyShow's audio entertainment offerings. While the Nfusion team will be headed by Shoaib, Sivagurunathan will lead the Architecture and Devops teams at BookMyShow.
"We have already established our video content vertical and are now excited to foray into audio entertainment through our offering 'Jukebox'. The Nfusion team has brought with them immense experience, innovation capability as well as expertise in building and managing scalable tech solutions," said director BookMyShow, Parikshit Dar.
To lead this vertical, BookMyShow has appointed Aditya Kuber as Associate Vice President - Audio Entertainment. He will report to BookMyShow CEO and Founder, Ashish Hemrajani. Aditya's role will be instrumental in driving partnerships with music labels and distributors, creating exclusive audio content for BookMyShow users, and product marketing.
Earlier in 2013, BookMyShow had acquired Chennai based online ticketing player TicketGreen.
Disclaimer: No Business Standard Journalist was involved in creation of this content
