by Karl Utermohlen | January 3, 2014 3:07 pm
Groupon (GRPN) has purchased Ticket Monster as GRPN stock posted gains on Friday.
The company’s acquisition of the Korean ticket and e-commerce company Ticket Monster is worth about $260 million. Groupon acquired Ticket Monster from holding company LivingSocial Korea which struggled to keep the ticket company .
LivingSocial has made about $924 million to date but the company hasn’t done too well in the global market. On the other hand, Groupon had revenue of $595.1 million in the most recent quarter and earnings per share of $0.02.
Groupon saw company shares soar following the acquisition. GRPN stock is up 2.45% in mid-afternoon trading Friday and 33% over the last month.
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