Published: Tue, May 24, 2016
Business | By Max Garcia

EBay's StubHub to Expand Abroad With Ticketbis Acquisition

EBay's StubHub to Expand Abroad With Ticketbis Acquisition

Ticketbis, which operates in 47 countries, will bulk up No. 1 USA ticket marketplace Stubhub's presence in Latin America and Europe, as well as adding.

"StubHub's extensive assets will add tremendous value for ticketing patrons and sellers worldwide, especially as we continue our expansion into nascent markets", adds Ander Michelena, co-founder of Ticketbis. And just last week, StubHub became the first official shirt sponsor in National Basketball Association history when it expanded its existing relationship with the Philadelphia 76ers. Ticketbis is now market leader in southern Europe and Latin America, while StubHub dominates in the US.

Online retailer eBay has announced the acquisition of Spain-based ticket marketplace Ticketbis for an undisclosed amount.

StubHub is perhaps better known in the US, though it has also operated in the United Kingdom since 2012, Germany since 2015, and Mexico as of this month. The acquisition is expected to close in mid-2016, said eBay, which refrained from disclosing the terms of the deal, although the website TechCrunch said it was a Dollars 165 million transaction.

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