EaseMyTrip signs agreement to acquire travel B2B marketplace Traviate

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EaseMyTrip signs agreement to acquire travel B2B marketplace Traviate
© Provided by Business Today EaseMyTrip signs agreement to acquire travel B2B marketplace Traviate 

Online travel portal, Ease My Trip announced on Thursday that it has signed a non-binding agreement to acquire Traviate Online Private Limited, a travel B2B marketplace. 

Ease My Trip said in a statement that the proposed acquisition would provide Easy Trip Planners Limited — its parent company — access to new opportunities in the travel sector. 

This acquisition will be finalised after definitive agreements, customary closing conditions and other necessary approvals. “Upon execution of the definitive agreements, we shall update you along with detailed disclosures required to be submitted pursuant to SEBI Circular dated September 09, 201,” the company statement added. 

Traviate, the investee company, was founded in 2016 and allows B2B channels, travel agents, hotels, tour operators, DMCs and other players in the travel ecosystem to connect and transact amongst each other. Traviate claims to build a robust and scalable technology listing more than 1.2 million properties and has enabled more than 2 lakh transactions to date.

EaseMyTrip was founded in 2008 by Nishant Pitti and Rikant Pitti and offers deals on flight booking, hotels and holiday packages. The company filed its DRHP for a $72 mn IPO with the market regulator SEBI last year and got listed in March 2021. 

 

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