KPN Enters Into Mobile Ticket Joint Venture With Imtech
AMSTERDAM -(Dow Jones)- Royal KPN NV Wednesday said it will enter into a mobile tickets joint venture with Imtech NV.
Imtech will sell 51% of its shares in mobile ticket provider Beep! to KPN.
Imtech and KPN are establishing the joint venture with a view to reinforcing the position of Beep! in the Netherlands and other European countries.
Using the Internet, mobile Internet or mobile phones, consumers are able to purchase digital tickets for events, dance parties, cinemas, theme parks, theatres, concerts and other occasions.
Consumers receive a digital ticket on their mobile phone that is then read by a scanner at the entrance. The ticket-holder is allowed in through an automatic access gate.
To date 100,000 digital tickets have been sold via Beep!. The company is ready for further growth and expansion in the Netherlands and other European countries.
With this acquisition, KPN intends to strengthen its position on the market for so-called 'contactless servcies'.
The joint venture is expected quickly to increase the number of sold digital tickets.
No further details will be disclosed about the takeover price.
Company Web site: http:www.kpn.com
(END) Dow Jones Newswires "
Posted to the site on 26th October 2005