According to East West Digital News this summer, Russian online ticket service Kassir.ru acquired its two counterparts Ч Belarusian Kvitki.by and Lithuanian Bilietai.lt Ч from Lithuanian BLT group, Delovoy Peterburg reported last week.
The transaction amounted to И5.5 million, according to the Russian newspaper.
Based in Saint Petersburg, Kassir.ru is part of the PMI media holding, which is controlled by Russian billionaire Eugene Finkelstein. As the result of the acquisition, Finkelstein now controls over 60% of the Belarusian and 65% of the Lithuanian markets.
The expansion to the Baltic region started in 2013 with the purchase of Baltic Ticket Holdings Ч covering Estonia, Latvia and Lithuania for Ч И5.3 million.
In 2015, Kassir.ru acquired Ticket.pro, which operates in the same countries, in exchange for a 20% stake in Baltic Ticket Holdings.
Founded in 1999, the company now covers Russia, Belarus, Ukraine, Kazakhstan and the Baltic states, with plans to expand to Uzbekistan and Germany in the future. Last year, it generated a turnover of 14 billion rubles (approximately $224 million at the average exchange rate), according to Finkelstein.
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License