The number two daily deals provider, LivingSocial has issued $143 million in equity to acquire TicketMonster. According to a Securities and Exchange Commission the sale was “made in connection with a business combination transaction, such as a merger, acquisition or exchange offer”.
I reached out to Brendan Lewis, Director of Corporate Communications at LivingSocial, who declined to comment on financial matters.
Earlier on, Erick Schonfeld from TechCrunch speculated that TicketMonster and Grupfoni were the most likely candidates. The entire amount was for TicketMonster. Grupfoni was not part of this deal.
Back in August we reported LivingSocial’s acquisition of the South Korean daily deals provider subject to Korean regulatory approval.
LivingSocial had originally been preparing for an IPO but due to current market conditions was later said to be reconsidering the move.