OYO acquires Motel 6-parent G6 Hospitality for $525 Mn OYO has agreed to acquire G6 Hospitality, operator of Motel 6 and Studio 6, for $525 million in an all-cash deal. The acquisition, expected to close by late 2024, will transfer G6 from Blackstone Real Estate to OYO. Motel 6 operates 1,450 hotels across the US and Canada, generating $1.7 billion in gross room revenues. This marks OYO's second major acquisition, following its purchase of Checkmyguest for $27 million. OYO recently raised $175 million, with $100 million from founder Ritesh Agarwal, and plans to refile its IPO papers. Despite turning profitable last year, OYO's revenue from operations dropped 1.4% to Rs 5,389 crore in FY24. #Entrackr #Fintrackr #News #Startup #StartupNews #IndianStartup #OYOAcquisition #OYOGlobalExpansion #OYOInvestments #BusinessAcquisition #HotelIndustryNews #MergersAndAcquisitions #OYOin2024 https://entrackr.com/2024/09/oyo-acquires-motel-6-parent-g6-hospitality-for-525-mn/

Zomato acquires Paytm’s movie and ticketing biz for $244 Mn Zomato is acquiring Paytm's movie and ticketing business for Rs 2,048 crore ($244 million), marking its first major acquisition since Blinkit in June 2022. The deal involves the transfer of 100% stakes in Paytm’s subsidiaries Orbgen Technologies (TicketNew) and Wasteland Entertainment (Insider) to Zomato, along with 280 employees from these subsidiaries. The entertainment ticketing business will remain operational on the Paytm app for up to 12 months during the transition. For FY24, this business generated Rs 297 crore in revenue and an adjusted EBITDA of Rs 29 crore. The acquisition reflects Zomato’s continued expansion and Paytm’s efforts to extract value from its struggling assets. #Entrackr #ZomatoAcquisition #PaytmDeal #Foodtech #EntertainmentTicketing #QuickCommerce #BusinessAcquisition #ZomatoGrowth #BusinessNews #AcquisitionNews #StartupMergers #Startup #IndianStartup #News #StartupNews https://entrackr.com/2024/08/zomato-acquires-paytms-movie-and-ticketing-biz-for-244-mn/