Flipkart acquires Cleartrip: Flipkart has announced that it will acquire Cleartrip, a leading online travel technology company. Flipkart said that it will acquire 100% of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers. The amount of the deal is not disclosed by the companies, but reports say that it is around $40 million.
Based on the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simple for customers. Both the companies said that the deal will be subject to applicable regulatory approvals.
Kalyan Krishnamurthy, the CEO, Flipkart Group, said: 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.
Stuart Crighton, CEO, and co-founder of Cleartrip said: Cleartrip has been a pioneer in capitalizing on technology to simplify the travel experience for our customers. This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region. We are delighted to be part of the Flipkart family and are excited about the positive impact this collaboration can have on our customers and the travel industry in general.