Fandango, the online movie-ticket company based in Los Angeles, said it has signed a deal to acquire Quantum Loyalty Solutions Inc., a leading provider of movie-ticket promotions.
Based in Incline Village, Nev., Quantum owns Hollywood Movie Money, which provides movie gift certificates for studios as well as Wal-Mart, Subway, Office Depot and other merchants. The movie currency is accepted in more than 36,000 screens nationwide.
Fandango, owned by NBC Universal, is the nation's largest online movie-ticket seller. The company said its acquisition of Quantum will accelerate Fandango's promotional ticket and gift card business.
Financial terms of the deal, expected to close in the third quarter of this year, were not disclosed.
“The marriage of Quantum’s promotions business and Fandango’s ticketing platform will offer unprecedented new opportunities for studios, exhibitors and brands to engage with millions of moviegoers,” said Paul Yanover, President of Fandango. “We look forward to working with the Quantum team to build on Hollywood Movie Money’s momentum and help drive even more movie fans into theaters.”
The acquisition is the latest expansion for Fandango, which signed its fifth exhibitor this year, Pacific Theatres, expanding its footprint in Southern California. Fandango also has signed deals this year with Muvico, Studio Movie Grill, Krikorian Premiere Theatres and Penn Cinema.
The company also recently extended its partnership with Regal Entertainment Group, the nation's largest theater chain.
ALSO:Copyright © 2015, Los Angeles Times