Despegar to Acquire 100% of Viajanet, an Online Travel Agency in Brazil
Summary
BRITISH VIRGIN ISLANDS--(BUSINESS WIRE)--Despegar.com, Corp. (NYSE: DESP) (“Despegar”), the leading online travel company in Latin America, today announced that it has agreed to acquire TVLX Viagens e Turismo S.A (“Viajanet”), one of the leading online travel agencies in Brazil, for a total consideration of approximately US$15 million and subject to customary closing conditions. In addition, 98% of Gross Bookings were within the Air segment of Brazil’s travel market, giving Despegar the opportunity to cross-sell its accommodation and other non-air product inventory to Viajanet’s existing customers. We expect to capture other significant synergies by leveraging Despegar’s technology platform to enhance Viajanet’s conversion rates and performance marketing capabilities, among other benefits.” Mr. Paulo Nascimento, Chief Executive Officer of Viajanet, added: “We are thrilled to be joining the team at Despegar, a leading player in LatAm’s travel market. Despegar operates in 20 countries in the region, accompanying Latin Americans from the moment they dream of traveling until they share their memories. We base these forward-looking statements on our current beliefs, expectations and projections about future events and financial trends affecting our business and our market.