The largest Baltic news portal Delfi, a subsidiary of Ekspress Grupp, acquired Latvian leading ticketing platform Biļešu Paradīze.
On June 4, 2019, Delfi signed a contract that its newly established subsidiaries SIA Delfi Tickets and SIA Delfi Tickets Service will acquire 100% of shares in Latvian ticketing businessBiļešu Paradīze from private individuals.
According to Mari-Liis Rüütsalu, the CEO of Ekspress Grupp, the aim of the acquisition is to expand Delfi’s activities into new areas and realise synergies with media operations. “Our key focus is to increase the volume of digital sales in all Baltic markets. The current acquisition enables Biļešu Paradīze and Delfi to find synergies in their daily businesses in Latvia and to develop the group’s diversified digital business footprint. In long-term, Ekspress Grupp is looking into possibility to expand the ticket sales business also to other Baltic States,” said Rüütsalu.
According to co-founder of Biļešu Paradīze Ēriks Naļivaiko, the ticket sales will continue in Latvia under the current brand and management team. “I and Jānis Daube, the main founders of Biļešu Paradīze, will continue active participation in management of the company. Delfi is a good new owner to Biļešu Paradīze because of the long-term strategic vision, ability to grow the business and find synergies. Integration with media business enables Biļešu Paradīze to offer more possibilities to both our clients and event organizers,” commented Naļivaiko.
Biļešu Paradīze operates the electronic ticket platform (bilesuparadize.lv) and box offices to organise the sale of tickets to various entertainment events on behalf of event organisers. The company has provided online ticket distribution for more than 15 years and is one of the two leading ticket service providers in Latvia. In 2018, Biļešu Paradīze sold tickets for more than 7,000 events. Among Biļešu Paradīze’s customers are prominent cultural and entertainment institutions as well as independent event organisers in Latvia.
Delfi is part of Ekspress Grupp, one of the largest media groups in the Baltics. Ekspress Grupp operates the leading online portals in the region and publishes the most popular daily and weekly newspapers and magazines in Estonia. The shares of Ekspress Grupp are listed on NASDAQ OMX Tallinn.
Porta Finance acted as an exclusive financial advisor to the founders of Biļešu Paradīze, assisting the vendors on all aspects of the transaction, including contacting investors, coordinating due diligence, preparing valuation analysis, and negotiating transaction documentation. The founders of Biļešu Paradīze commented: “We appreciated expert advice of Porta Finance, personal approach and valuable support throughout this important transaction for us.”
Associate Director, Porta Finance
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