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Dutch Telco KPN Acquires 51% Stake in Mobile Ticketing Firm Beep

Authored by Mark Hefflinger on October 27, 2005 - 4:28am.
Amsterdam - Royal KPN, a telecommunications company based in the Netherlands, announced that it has acquired a 51% stake in mobile ticketing company Beep from Imtech, a local technical service provider. Financial terms were not disclosed. KPN and Imtech -- which will own the remaining 49% of Beep -- said they would work together to expand Beep's service in the Netherlands and Europe. The service allows Internet and mobile phone users to buy tickets for events; once purchased, the tickets are downloaded in the form of a barcode, which can then be scanned at entry to the event. "The Beep platform and the 2D barcode form an ideal stepping stone in the further development of mobile authentication and authorization services," KPN said. "Essentially all modern mobile phones are equipped to make use of the service."
tags: Acquisition | Dutch Telco | KPN | Mobile Ticketing | Beep |