SUMMARY
- Zomato has completed the Rs 2,048 crore acquisition of Paytm’s ticketing subsidiaries, including TicketNew and Insider platforms.
- The deal involves a 12-month transition period where tickets will remain available on both Paytm and the acquired platforms.
- About 280 employees from Paytm’s entertainment ticketing business will join Zomato, which aims to expand its offerings beyond food delivery.
Zomato has finalized its acquisition of Paytm’s entertainment ticketing subsidiaries, Wasteland Entertainment Private Limited (WEPL) and Orbgen Technologies Private Limited (OTPL). The deal, valued at Rs 2,048 crore, includes the TicketNew and Insider platforms operated by OTPL and WEPL, respectively.
The acquisition was officially completed on August 27, as confirmed by both companies. This move marks Zomato’s strategic expansion into the event ticketing space, complementing its recent ventures into quick commerce and reinforcing its goal of broadening its business beyond food delivery.
During a transition period of up to 12 months, movie and event tickets will still be available on the Paytm app, as well as through TicketNew and Insider, ensuring a seamless experience for users and merchant partners. Approximately 280 employees from the entertainment ticketing divisions will join Zomato as part of the acquisition.
Paytm, based in Noida, indicated that it will now concentrate on its core payments and financial services sectors. This acquisition is a significant step for Zomato as it diversifies its business portfolio, which already includes food delivery and a forthcoming quick commerce app named District.
