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Zomato to Acquire Paytm's Ticketing Business for ₹2,048 Crore, $244 Million

Aug 21, 2024, 03:24 PM

Zomato has entered into a share purchase and subscription agreement with One 97 Communications, Wasteland Entertainment, and Orbgen Technologies to acquire Paytm's entertainment ticketing business for ₹2,048 crore, as noted in a BSE filing. This acquisition will see Zomato take ownership of Paytm Insider, enhancing its presence in the events sector. The deal is valued at approximately $244 million and reflects Paytm's strategic shift towards focusing on its core payments and financial services distribution.