(7 March 2007 6:00 pm)

MUMBAI: The TV18 Group's, Internet arm, Web18, has acquired a majority stake in Bigtree Entertainment which works in the area of movie and entertainment ticketing.

This investment will further strengthen the group's position in the Internet and mobile transactions space

Over the past eight years, Bigtree has established a strong brand presence in the Indian market by offering its integrated entertainment ticketing solutions and services across 35 cities in India.

Bigtree says that it fulfills an important need for the entertainment industry by providing ticketing applications to cinemas and entertainment venues. This is done through a suite of software products ranging from box office ticketing, concessions management, web ticketing, mobile ticketing, loyalty management software, film programming, bar code ticketing, voucher management, etc.

Bigtree also specialises in ticket selling services to end consumers. Cinemas and event organizers are offered a complete solution through 16 call centers, Internet ticketing and a mobile ticketing platform. The company provides the necessary software, processes, systems, door delivery options, cash collection, warehousing and accounting services, and currently handles over 2.5 million ticketing transactions annually for all major exhibition chains/centres across the country.

Web18 had acquired a majority stakes in Yatra.com and Jobstreet.com India a few months ago.

TV18 Group CEO Haresh Chawla says, "This acquisition is in line with our strategy to strengthen our position in the Consumer Internet space. The Internet and Mobile markets are key to the Group's future and growth."