Zomato Acquires Paytm’s Entertainment Ticketing Biz for $244 Million

• Zomato has acquired Paytm’s movie and event ticketing business for $244 million in cash, aiming to complement its dining-out unit.
• This move is part of Zomato's strategy to diversify beyond its quick-commerce app, Blinkit, and grow in the event booking space.
• Paytm is selling non-core assets as part of its revival strategy following regulatory clampdowns and declining sales.
• Zomato's history of acquisitions includes Runnr, Uber Eats India, Wotu, and Blinkit, significantly boosting its revenue and market position.
• While Zomato has had successful acquisitions, it has also faced setbacks, such as the write-off of several international acquisitions and the sale of non-strategic business units.

Source: The Arc