Groupon Makes an Acquisition
Groupon's latest deal is, quite literally, a monster. The online deals purveyor announced that it has inked an agreement to acquire Korea's Ticket Monster from LivingSocial. The price is $260 million, up to $160 million of which will be paid in Groupon's class A common stock.
Ticket Monster, founded in 2010, is described by Groupon as "a leading provider of product, local and travel offers in Korea." Its owner-to-be added that its annual billings exceed $800 million, and it boasts over 4 million active customers.
Groupon said that the Ticket Monster brand name and the company's management team will remain following the acquisition.
The deal is expected to close in the first half of next year.
Groupon also reported its Q3 results, in which it missed on the average analyst projection for revenues, but beat on EPS.
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