Fandango has agreed to acquire fellow online movie ticket seller MovieTickets.com in a move that broadens its reach in Latin America.
Deal terms were not disclosed. The transaction is expected to close in the fourth quarter of this year.
With the purchase of MovieTickets.com, Fandango’s will add new exhibitors to its network, including National Amusements, Cineplex, Landmark Theatres and Marquee Cinemas, and several other independent theater chains. The deal also gives Fandango a larger footprint in Latin America and expands the company to Canada and the United Kingdom. MovieTickets.com will continue to be run from its Florida headquarters.
“MovieTickets.com has done a terrific job, building a popular and trusted brand with millions of loyal customers and hundreds of exhibitors, and has been a champion of serving theater circuits large and small for nearly two decades,” Fandango President Paul Yanover said in a statement. “We look forward to sharing an array of mobile and social media innovations with their customer base to enhance the movie discovery, planning and ticket buying experience.”
“MovieTickets.com is committed to serving moviegoers and exhibitors to enhance the total moviegoing experience,” MovieTickets.com CEO Joel Cohen said in the statement. “Teaming with Fandango will enable MovieTickets.com to further its mission and increase advance ticket sales.”