Mergers and Acquistions News
Categories: Software
May 31st 2011, 15:53PM
South Korean start-up Ticket Monster has confirmed the acquisition of Malaysian online shopping site Integrated Methods.
It was the new company's first overseas acquisition, and kicks off what the company has referred to as aggressive growth overseas.
Details of the acquisition have not been disclosed by either party.
The news comes as Ticket Monster is under pressure to become involved with acquisition deals, after a number of companies made offers.
Chief executive officer Daniel Shin told Reuters: "We get offers all the time... on a monthly basis from both international and domestic firms. Some of them are serious and we keep talking to them... But it really comes down to valuation."
The new business is built along the same lines as successful voucher sites such as Groupon and Living Social, which offer daily deals in the local area for people who subscribe.
Ticket Monster was set up by Mr Shin in May last year.
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