Vivid Seats is using a mix of cash and stock to acquire Vegas.com in a deal that is valued at about $240 million. That offer is split between $151.2 million in cash and $88.8 million in shares of SEAT stock.
Stan Chia, CEO of Vivid Seats, said the following about the company’s acquisition of Vegas.com:
“This transaction will increase our scale and reach in this key market, bring incremental unique inventory through strategic partnerships and offer long-term synergistic upside, while increasing our TAM by over $6 billion.”
How This Deal Benefits SEAT Stock
Vivid Seats’ acquisition of Vegas.com grants it a strong relationship with travelers heading to Las Vegas. The website acts as a hub for entertainment planning during trips to the city. That includes setting up flights and hotel stays for visitors, as well as selling them tickets for events taking place in and near the city.
Investors in SEAT stock are excited about the purchase with shares climbing 8.2% higher as of this writing. This comes with some 891,000 shares changing hands. That’s already above the company’s daily average trading volume of about 493,000 shares.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.