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- Paytm has decided to sell the entertainment ticketing business to Zomato.
- Zomato will acquire movie and event ticketing businesses from Paytm worth Rs 2,048 crore.
- Paytm says it will strengthen its focus on core payments and financial service distribution.
- The transfer will also include 280 existing employees from the entertainment ticketing business at the company.
- Paytm built movie ticketing and acquired TicketNew and Insider for Rs 268 crores between 2017 and 2018.
- This is the second-largest acquisition by Zomato after the acquisition of Blinkit in 2021.
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