One 97 Communications Limited, which owns the Paytm brand, on Wednesday said it will sell entertainment ticketing business to Zomato for Rs 2,048 crore.

Entertainment ticketing business, including movies, sports, and events, will be available on the Paytm app during a transition period of up to 12 months, it said.

“One 97 Communications Limited (OCL)…today announced, that it has entered into definitive agreements for the sale of its entertainment ticketing business that includes movies, sports and events (live performances) ticketing to Zomato Limited,” it said.

The deal, valued at Rs 2,048 crore, underscores the value Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale, the company said.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)