The leading ticketing group in the Baltics, Piletilevi, which also includes the Latvian company Biļešu Serviss, will acquire Bilete.ro, the largest ticketing platform in Romania and the bulk of assets in the Czech GoOut.net.
Piletilevi will also acquire the majority of GoOut.net's assets as it continues its expansion in the Baltic and Central European markets, giving it control of the Czech market leader, Piletilevi’s CEO Sven Nuutmann has announced.
"The acquisition of Bilete.ro and GoOut.net is an important enabling the company to expand into new markets and to strengthen its leading position in ticketing not only in the Baltics but also in Eastern and Central Europe," said Mr Nuutmann.
SEB Bank helped to finance the acquisition of both companies by Piletilevi Group. The amount and other details of the transactions are not disclosed. Nuutmann added that Piletilevi Group does not rule out new transactions in markets where it has already been able to establish a strong presence and is looking for new opportunities to expand its geography.
GoOut.net is the most visited ticketing platform in the Czech Republic. By acquiring 80% of the company's assets, Piletilevi also has a presence in Poland, Slovakia and Germany. The acquisition of the Czech and Romanian platforms will allow Piletilevi to sell around 15 million tickets per year.
Piletilevi Group is owned by Sven Nuutmann's investment company EastCom Capital and the private investment company BaltCap. It is an international ticketing company that owns several platforms, including Piletilevi in Estonia, Biļešu Serviss in Latvia, Bilietai.lt in Lithuania, Bilete.ro in Romania and GoOut branded platforms in the Czech Republic, Slovakia and Germany.
Piletilevi Group has been operating for more than 26 years and offers the most comprehensive ticketing services in the Baltics. The company is expected to earn around €210 million from ticketing this year, but profits could grow to €300 million over the next three years.