Troubled fintech giant Paytm has signed a definitive agreement to sell its entertainment ticketing #business to foodtech major Zomato in an INR 2,048 Cr all-cash deal.

“This deal, valued at INR 2,048 Cr on a cash-free, debt-free basis, stands as a testament to the value Paytm has created through its #entertainment #ticketing business, bringing choice and convenience to millions of Indians with its services and scale,” Paytm said in a statement.

As part of the deal, nearly 280 employees from #Paytm’s entertainment ticketing business will now join #Zomato.

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Credit - Inc42 Media