Zomato To Take Over Paytm's Movie Ticketing & Events Business?

Industry Watch | June 17, 2024 | News

Zomato Paytm

Zomato has officially stated its ongoing negotiations with Paytm regarding the potential acquisition of Paytm's movies ticketing and events business. In a recent filing with the stock exchange, Zomato disclosed these discussions, emphasizing that a final decision has yet to be reached.

The move is aimed at bolstering Zomato's presence in the leisure and entertainment sector while aligning with its strategic focus on its core businesses. According to reports from June 16, the transaction is estimated to value between Rs 1,600-1,750 crore.

If successful, this acquisition would mark one of Zomato's significant deals following its acquisition of Uber Eats in 2020 and its takeover of Blinkit in 2021 for Rs 4,447 crore in an all-stock transaction.

According to media reports on June 16, Zomato is considering acquiring Paytm's movie booking and events unit in a deal that may value around Rs 1,600-1,750 crore.

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