BookMyShow has acquired MastiTickets, an online ticket booking firm, for an undisclosed amount.
The two-year-old Hyderabad start-up has presence in Andhra Pradesh and Telangana. The Hyderabad firm has eight employees, while BookMyShow has over 1,000 employees.
“The acquisition gives 120 cinemas in the two States. The acquisition of MastiTickets fit perfectly into its expansion strategy,” Ashish Hemrajani, Chief Executive Officer Officer and Co-Founder, BookMyShow, said.
The firm, which raised about ₹550 crore last year, said it is planning to add 1,000-1,500 screens to its platform this year.
“We have added 1,100 screens last year,” he told BusinessLine after announcing the acquisition.
“As India embarked on a digitisation drive backed by increasing Internet penetration, we see a good scope for online ticketing market,” Ashish Hemrajani said.