BookMyShow acquire NFusion to strengthen their Music Streaming Service Jukebox.
02nd, August 2017 - News
BookMyShow, Mumbai based company announced the acquisition of nFusion, an IT consultancy and infrastructure company. The acquisition was made to strengthen BookMyShow’s music streaming service offering, JukeBox.
The latest acquisition is an all-cash deal, the terms of which remain undisclosed.
Jukebox is a service offered by BookMyShow for streaming songs and downloading them. This service was begun in June 2017. The nFusion acquisition will help BookMyShow to strengthen their services.
NFusion was started in 2009 in Sharjah, UAE by Prabhakar Reddy, Sivagurunathan S, and Shoaib G.M. Khan. It is an IT consultancy offering a range of services such as web design, web application, web hosting etc. On the solutions side, it offers content delivery solutions as well as on-demand video streaming. NFusion has a presence in the UAE, India, and Hong Kong.
After the deal is formalised, Sivaragunathan S will oversee the architecture, development and operations teams at BookMyShow. Khan will continue to lead the nFusion team inside BMS. The third co-founder Prabhakar Reddy has left to pursue outside interests.
BookMyShow was founded in Mumbai in 1999 and launched in 2007. According to an official statement, BookMyShow is now present in over 650 towns and cities across India. In one of the largest fundraises of 2016, BookMyShow raked in $80 Mn from US-based Stripes Group with participation from existing investors such as Network18, Accel Partners, and SAIF Partners, in July 2016. The company then rolled out a brand-new version of its Android app v5.0.7, simplified the interface and caters to users in regional languages such as Tamil, Telugu, Hindi, and Kannada besides the default English language option.
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