Monday, 15 July 2024
Trending
Business

Zomato and Paytm in Talks for Major Acquisition Deal

  • Zomato and Paytm confirm acquisition talks for Paytm’s ticketing business.
  • The estimated deal value ranges between Rs 1,600 crore and Rs 2,000 crore.
  • Zomato aims to enhance its going-out business with this acquisition.

Zomato and Paytm have confirmed that they are in discussions regarding the potential acquisition of Paytm’s movie and event ticketing business. While no binding agreement has been reached yet, the deal is estimated to be valued between Rs 1,600 crore and Rs 2,000 crore.

For Zomato, this acquisition aligns with its strategy to expand its going-out business. Meanwhile, Paytm aims to refocus on its core payment and financial services, seeking to enhance shareholder value and achieve profitability at scale.

Zomato Eyes Expansion with Paytm Ticketing Business Acquisition

Zomato is looking to strengthen its entertainment segment, recently committing Rs 100 crore to its live events and ticketing business. This acquisition would support that goal and mark its second-largest purchase.

Paytm, on the other hand, is doubling down on its core offerings in payment and financial services. The sale of its ticketing business would allow Paytm to concentrate on areas with higher growth potential.

Both companies have confirmed the discussions, emphasizing that no binding agreements have been made yet. They stressed that any information about the talks should be seen as speculative at this stage.

The potential acquisition of Paytm’s ticketing business by Zomato signifies strategic realignment for both companies, with Zomato enhancing its entertainment offerings and Paytm focusing on core financial services.

“The company routinely explores various strategic opportunities aimed at enhancing shareholder value.”

— Paytm corporate filing

Related posts
Business

Consumer Insights from PwC's 2024 Survey: Trust, Technology, and Sustainability

66% of Indian consumers willing to share data for personalization, yet 76% express privacy…
Read more
Business

TCS Q1 FY25 Results: Muted Revenue Growth and Margin Pressures Expected

TCS Q1 revenue expected to grow 1.6% QoQ in constant currency terms. Net profit likely to decline…
Read more
AsiaBusiness

Samsung Union Strike Extended Indefinitely Amid Pay Dispute

National Samsung Electronics Union (NSEU) demands 3.5% pay raise and extra holiday. Initial…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

Your email address will not be published. Required fields are marked *

CelebrityEntertainment

Taylor Swift Announces Final Dates for Eras Tour

Worth reading...