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Zomato To Acquire Paytm's Ticketing Business in ₹2,048 Crore

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Synopsis:

Zomato plans to acquire Paytm's movie ticketing business for ₹2,048 crore to strengthen its going-out vertical. Zomato share price and Paytm share price remain in focus as this strategic deal boosts Zomato's diversification beyond food delivery.

Zomato - Paytm News Today

Food delivery giant Zomato has announced the acquisition of One 97 Communications Limited’s (Paytm) movie ticketing and events business in an all-cash deal worth ₹2,048 crore. This strategic move is aimed at enhancing Zomato's "going-out" vertical, marking another step in its diversification efforts beyond food delivery.

Strategic Shift Beyond Food Delivery

The acquisition reflects Zomato’s broader strategy to diversify its business operations. Following its 2022 acquisition of Blinkit in the quick commerce space, Zomato is now focusing on expanding its presence in the live events and movie ticketing sectors. The company has set aside ₹12,539 crore in cash reserves to fuel this inorganic growth.

Details of the Acquisition

The acquired entities, Paytm Insider and TicketNew, will be moved under wholly-owned subsidiaries of Paytm, Orbgen Technologies and Wasteland Entertainment, before the full stake is transferred to Zomato. This transfer will also include nearly 280 employees from the ticketing business, ensuring continuity in operations.

The transaction is expected to close within the current quarter. In a statement, Paytm confirmed that ticketing services would continue to be available on the Paytm app during the transition period of up to 12 months to ensure an uninterrupted user experience.

Impact on Zomato and Paytm Share Prices

As a result of this acquisition, both Zomato share price and Paytm share price are expected to remain in focus. On the day of the announcement, Zomato's shares ended slightly lower at ₹259.77, while Paytm's shares closed nearly flat at ₹574.90 on the NSE.

Zomato’s acquisition of Paytm’s ticketing business represents a strategic move to enhance its market position in the going-out segment, ensuring its continued relevance and growth in the rapidly evolving digital entertainment space.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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