Internet radio giant Pandora Media Inc. has built its business catering to fans who don’t necessarily want to pay for music. But now it is betting that many of those listeners will open their wallets to hear music live.

Pandora said Wednesday it had agreed to acquire San Francisco ticketing company Ticketfly Inc., for $450 million in stock and cash. Ticketfly provides ticketing and marketing software for about 1,200 North American venues and event promoters. It sold 16 million tickets to more than 90,000 live events last year.

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