Web18 picks stake in BigTree Entertainment

New Delhi, Mar 7 (UNI) The TV18 Group's internet arm, Web18, has acquired a majority stake in Bigtree Entertainment Pvt Ltd, a leader in movie and entertainment ticketing, to further strengthen its position in the internet and mobile transactions space.

The acquisition strengthens Web18's position in the e-transactions space, both on the PC as well as mobile phones, a company statement said today.

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.

''This acquisition is in line with our strategy to strengthen our position in the Consumer Internet space,'' TV18 Group CEO Haresh Chawla said.

Bigtree 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.

The company had acquired a significant stake in Yatra.com and Jobstreet.com India a few months ago.

UNI