Paytm acquires Chennai-based TicketNew for $40 million

New Delhi: Paytm, the brand owned by One97 Communications, has acquired Orbgen Technologies, the entity that operates Chennai-based online ticketing platform TicketNew. Sources put the deal size at around $40 million. Last year TicketNew raised Rs 1.2 billion from Chinese e-commerce giant Alibaba. 

With this acquisition, Paytm hopes to take on major players such as BookMyShow. According to the company, the acquisition will help it attain leadership status in south India. 

Paytm Entertainment has increased its online penetration in the