EBay (EBAY) has bought a Spain-based ticket marketplace called Ticketbis, which it will fold into its StubHub business.
Ticketbis, which is headquartered in Bilbao, has a presence in 47 countries, and eBay hopes it will help extend StubHub’s reach further into Latin America and Europe, while also entering the Asia Pacific region.
StubHub launched in Mexico this month, and in Germany and the U.K. in 2015 and 2012 respectively. Having more-or-less copied the business model, Ticketbis claims to be the market leader in southern Europe and Latin America.
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“The acquisition of Ticketbis will allow us to connect millions more people with inspiring events,” StubHub president Scott Cutler said in a statement.
Meanwhile, eBay president Devin Wenig said the acquisition “reaffirms [eBay’s] commitment to investing in StubHub and helping fuel its momentum.”
That said, eBay did not disclose the terms of the transaction, though it said the acquisition is not expected to affect the guidance it has already laid out for Q2 2016 or the full financial year. It expects the deal to close in the middle of this year.