Pandora's platform is already being used to drive ticket sales. Now it owns some of those transactions.
The leading Internet radio company is diversifying its portfolio by entering the ticketing business. Pandora announced Wednesday it has acquired San Francisco-based ticketing company Ticketfly.
The purchase price of $450 million, a nearly even split of cash and stock, is subject to certain price adjustments.
"This is a game-changer for Pandora -- and more importantly -- a game-changer for music," said Brian McAndrews, Pandora CEO, in a statement.