6 Mar 2023 11:07

MTS in talks to buy TicketsCloud - paper

MOSCOW. March 6 (Interfax) - MTS Entertainment, a division of Russian mobile service provider Mobile TeleSystems (MTS) , is holding negotiations to acquire ticket sales platform TicketsCloud from its founder Yegor Yegerev, national daily Kommersant said, citing sources.

The talks are "already in the final stage," and TicketsCloud has undergone a pre-sale audit, the sources said. One of the paper's sources said the whole company was valued in the range of 500 million to 1 billion rubles, while another said the valuation was 2 billion rubles.

One of the paper's sources familiar with the details of the talks said the acquisition would enable MTS to strengthen its position in the segment and expand its ability to collect and process big data about users for subsequent use in recommendation algorithms. The company declined to comment.

TicketsClouds offers ticket sales solutions to event organizers. The Russian company TicketsCloud LLC was registered in 2018 and is 75.5% owned by Yegerev and 24.5% by UK-based TicketsCloud Ltd, the SPARK-Interfax system showed. The latter also owns Oblako Biletov LLC.

TicketsCloud LLC closed 2021 with a loss of 8 million rubles on revenue of 111.6 million rubles.