Publishing group Time Out has acquired YPlan for £1.6m.

YPlan is an events discovery and booking platform which first launched its app in London in 2012, and started to spread internationally the following year, after landing a $12m round of funding. YPlan sells tickets for events with a focus on short-term booking, promising a curated selection for each city where it operates. That lines up neatly with the publishers existing offering of weekly city guide magazines, and it says the acquisition will provide the company with an advanced eCommerce platform which will accelerate and scale.

The other motivating factor behind the acquisition seems to be YPlans product development and technology team, which the publisher says will provide it with the specific know-how to drive bookings and optimise the conversion rate of Time Out’s audience.

“Developing eCommerce and monetising our audience is an important element of our ambitious growth strategy,” said Time Out CEO Julio Bruno. “We acquired YPlan because its advanced technology will significantly accelerate this strategy. It will enable us to offer our large audience more online booking opportunities, whilst improving the user experience. Together we will be stronger than ever to bring our customers the capabilities to make the most of the city and to make Time Out an even better place to discover, book and share.”

YPlan reported losses of £6.2m in 2015, but has apparently materially reduced its losses this year through reductions in its cost base. Time Out expects the acquisition to be mildly dilutive to its 2016 earnings and broadly neutral in 2017.