Online ticketing company BookMyShow has acquired Nfusion, a digital entertainment company, for an undisclosed amount in an all cash deal. The acquisition is part of BookMyShiw's plans to expand the scope of its operations beyond just online movie ticketing. 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. BookMyShow will be using Nfusion's scalable tech solutions, especially CMS (content management system), for its 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 development teams at BookMyShow.Parikshit Dar, director, BookMyShow said, "We have already established our video content vertical and are now ...
Townscript charges a fee of 3.99% on transactions, plus $0.15 per booking, reports Tech In Asia
The acquisition of MastiTickets will help the company to further consolidate its position and strengthen its footprint
MastiTickets has a strong presence in AP and Telangana and currently works with over 120 cinemas
The company is focusing on southern India, where it has already improved its presence by addressing service issues in Chennai, Hyderabad and Bengaluru
BookMyShow is now reportedly valued at Rs 3,000 cr
From a group of investors, led by US-based private equity Stripes Group
The ticketing portal is pitching itself aggressively as a partner for sports events in India and abroad