Paytm sells its entertainment ticketing business to Zomato for Rs 2,048 crore. The transition will allow users to access services via Paytm for up to 12 months.
The parent company of Paytm, One 97 Communications Limited, stated that Zomato would purchase its entertainment ticketing business for Rs 2,048 crore.The deal includes ticketing services for movies, sports events, and live performances. During a transition period of up to 12 months, users can continue to access these services through the Paytm app.
Paytm’s entertainment ticketing business has been a significant part of its offerings, providing convenience and a wide range of choices to millions of users across India. The sale to Zomato is a strategic move, underscoring the value that Paytm has built in this sector. The company highlighted that this deal marks a significant milestone in its journey.
The transaction is expected to benefit both companies, with Zomato expanding its service portfolio and Paytm focusing on other core areas of its business. The definitive agreements for the sale were signed on Wednesday, cementing a new chapter for both brands in the Indian market.
