Updated: April 15, 2021 4:11:34 pm
Walmart-owned e-commerce giant Flipkart on Thursday announced that it will acquire online travel and ticket booking platform Cleartrip. The e-commerce firm said that it will be acquiring 100 per cent of Cleartrip’s shareholding, as it enhances its investments to strengthen its digital commerce offerings.
Under the terms of the agreement, Cleartrip’s operations will be acquired by Flipkart, although it will continue to operate as a separate brand, retaining all employees while working closely with Flipkart.
The value of the deal was however not disclosed in the statement. The deal closing will be subject to applicable regulatory approvals.
Founded in 2006, Cleartrip allows its customers to book flights and hotels from its mobile app and website.
Commenting on the deal, Flipkart Group CEO Kalyan Krishnamurthy in the company statement said, “The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers. We welcome the Cleartrip team with their deep industry knowledge and technology capabilities to the Flipkart Group and look forward to providing deeper value and travel experiences for customers together.”
Cleartrip CEO and Co-founder Stuart Crighton said, “We are delighted to be part of the Flipkart family and are excited about the positive impact this collaboration can have for our customers and the travel industry in general.”
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