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.