Groupon Pays LivingSocial $260M For Ticket Monster

Law360, New York (November 8, 2013, 3:39 PM EST) -- Groupon Inc. agreed to buy Korean e-commerce company Ticket Monster for $260 million in cash and equity from its biggest rival, LivingSocial Inc., Groupon said Thursday, while announcing its third-quarter results.

With $800 million in annual billing, Ticket Monster is a major South Korean pay processor, with rapid growth, according to the announcement. Groupon itself also posted billing growth of 10 percent, from $1.22 billion in third quarter of 2012 to $1.34 billion in the same period this year. If the deal goes through, current owner...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.