Online movie ticket merchant Fandango has snapped up Ingresso.com, an entertainment ticket subsidiary based in Rio de Janeiro, in conjunction with Latin American e-commerce company B2W Companhia Digital. Ingresso counts 6 million registered customers and is Brazil’s largest online mobile ticketing service. Ticket retailer also sells tickets to concerts, soccer games and cultural events including the Rock in Rio music festival.
The acquisition, subject to regulatory review and other customary closing conditions, is scheduled to close in the fourth quarter of this year. The Raine Group and G5 Evercore advised Fandango on the transaction.
Fandango plans to build a larger footprint for Ingresso.com in Brazil as it co-brands it with its online and mobile entertainment products, YouTube and Fandango Movieclips content. Brazil accounted for 40% of Latin America’s 2014 box office per Rentrak and has seen nine straight years of box office growth. Currently it’s the 11th-largest theatrical market per the MPAA, and the org projects Brazil will rank fifth by 2020.
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