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Announced

Wego to acquire Middle East business of Cleartrip from Flipkart.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Pending

Travel and Tourism

Private

Acquisition

Friendly

Cross Border

Single Bidder

online travel agent

United Arab Emirates

Majority

Synopsis

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Wego, an online travel company, agreed to acquire Middle East business of Cleartrip from Flipkart, an e-commerce company. Financial terms are not disclosed. "Cleartrip and Flyin are both product-driven companies with best-in-class OTA technology that have established strong brands and strong positions across the Middle Eas. We are excited to welcome Cleartrip Middle East and Flyin into the Wego group. The Middle East is set to be one of the most exciting growth stories of the next decade with the travel & technology sectors taking center stage and with the Wego group playing a very crucial role. This acquisition will significantly increase our scale and capabilities and will strengthen our ability to partner and collaborate across our region. We are also excited to begin a multi-faceted partnership with Flipkart that will involve us sharing a brand across regions and co-operating on technologyt," Ross Veitch, Wego CEO and Co-Founder.

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