eBay expanding StubHub internationally with Ticketbis acquisition
With the deal, people in more parts of the world will be able to sell each other tickets to concerts and sporting events.
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eBay has agreed to acquire Ticketbis to expand its StubHub online ticket sales business, the auction site said Tuesday.
StubHub and Ticketbis offer a secondary market that lets people sell their tickets to concerts, games and other events. The Ticketbis acquisition will be folded into the Stubhub operation to introduce it to the Asia-Pacific region and improve its presence in Latin America and Europe, the company said.
"eBay's global presence will help StubHub acquire new customers as it expands into markets outside of the US. This deal reaffirms our commitment to investing in StubHub and helping fuel its momentum," eBay Chief Executive Devin Wenig said in a statement.
StubHub already is available in the US, UK, Canada, Germany, France, Switzerland, Austria and Mexico.
Terms of the deal weren't disclosed, but TechCrunch reported the deal's value at $165 million. Spokesman Glenn Lehrman declined to comment on the report.