Zomato To Buy Paytm’s Entertainment Ticketing Biz In 2,048 Cr Cash Deal

Zomato To Buy Paytm’s Entertainment Ticketing Biz In 2,048 Cr Cash Deal

SUMMARY

As part of the deal, nearly 280 employees from Paytm’s entertainment ticketing business will now join Zomato

Paytm said that the move will allow it to focus on its core payments and financial services distribution business

This comes nearly two months after Paytm and Zomato said that they held initial talks for the deal

Troubled fintech giant Paytm has signed a definitive agreement to sell its entertainment ticketing business to foodtech major Zomato in an INR 2,048 Cr all-cash deal.

“This deal, valued at INR 2,048 Cr on a cash-free, debt-free basis, stands as a testament to the value Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale,” Paytm said in a statement.

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