Ticket booking platform BookMyShow’s parent company Bigtree Entertainment Private Limited has acquired 75% stake in Townscript, a Pune-based ticketing and planning services firm, Mint reported on Wednesday. This is the second such acquisition this year by Bigtree, which did not disclose the details of its investment in Townscript.
Bookmyshow Chief Executive Officer Ashish Hemrajani said his company would invest in scaling up Townscript’s operations. “We discovered the perfect synergy match with Townscript and are excited to be partnering with them,” Hemrajani said. Similarly, Townscript co-founder Sachin Sharma said the investment would be used towards “towards building and improving” the company’s product offering as well as providing “technology solutions that address all pain points of registration-based events”.
Townscript says it has already facilitated the organisation of 12,000 events across several cities in the country. Under the terms of the deal, BookMyShow Business Development Manager Hemant Madhwani will join Townscript to lead its operations, PTI reported. However, the company will continue to function as an independent business.
Bigtree has added to its business through several acquisitions in the past few years. In 2013, the company had acquired Chennai-based Ticketgreen.com. It had also acquired majority stakes in social media analytics company Eventifier and fan relationship firm Fantain in 2015 and 2016. In January, the company acquired MastiTickets, a Hyderabad-based firm.