Leading Latvian ticketing platform Biļešu Paradīze has been acquired by Baltic media giant Ekspress Grupp.
Biļešu Paradīze, which translates as Ticket Paradise, was founded in 2004 and sold tickets for more than 7,000 events last year via its online portal and box offices in the Baltic state.
The operator has been taken over by subsidiaries of A/S Delfi, the Ekspress Grupp-owned company that runs one of Latvia’s biggest news websites, Delfi.lv.
Express Grupp said it has acquired 100 per cent of shares in Biļešu Paradīze as it seeks to diversify Delfi’s offering for its 800,000 monthly visitors. No details were given as to the purchase price.
“The aim of the acquisition is to expand into new areas with the focus on increasing the share of group’s digital revenues,” said a spokesperson for Baltic media giant Ekspress Grupp.
“[Also] increase the group’s return on capital and realise synergies with adjacent businesses to existing media operations; strengthen the core existing activities and to support the group in carrying out the digital transformation; develop the group’s diversified digital business footprint.”
The main founders of Biļešu Paradīze, Jānis Daube and Ēriks Naļivaiko, will continue active participation in management of the company.
Among Biļešu Paradīze’s customers are prominent cultural and entertainment institutions as well as independent event organisers in Latvia.
Ekspress Grupp owns leading web media portals in the Baltic states and publishes many of the most popular daily and weekly newspapers and magazines in Estonia.