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Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 1,500 crore: sources

Economic TimesEconomic Times · 3m
Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 1,500 crore: sources

Food delivery company Zomato is in talks to acquire Paytm's movie ticketing and events business, as it aims to strengthen its 'going out' vertical. The discussions are in advanced stages and could value Paytm's vertical at around Rs 1,500 crore. Zomato's interest in this segment aligns with its strategy to capture consumer demand across food, grocery, and entertainment. If the deal goes through, it will be Zomato's second-largest acquisition after Blinkit. Paytm Movies and Paytm Insider will be merged to create a unified unit. Zomato has been diversifying its services, including ticket-booking and organizing events like Zomaland. Paytm, on the other hand, is focusing on its core payments and financial services businesses.

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