Groupon completes Ticket Monster acquisition

Friday 3 January 2014 09:51 CET | News

Online group vendor Groupon has completed the acquisition of Ticket Monster, a Korean ecommerce company, for USD 260 million in cash and stock.

As previously disclosed, 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 approximately 1,000 employees.

As announced in November 2013, Groupon has acquired LivingSocial Korea, the holding company that owns Ticket Monster. LivingSocial Koreas Malaysian subsidiary was divested prior to close and is not part of this transaction. Per the terms of the agreement, the final allocation paid to LivingSocial was USD 100 million in cash and USD 160 million in Groupon Class A common stock, subject to registration rights.

In recent news, Groupon has selected Borderlinx Global eCommerce Solutions to help facilitate Canadian cross-border US sales for the companys Groupon Goods channel.

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Keywords: Groupon, Ticket Monster, ecommerce, LivingSocial Korea
Categories: Payments & Commerce
Countries: World
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