Being one of India’s leading online travel tech company the acquisition spree sets in motion a seamless ingression towards a stronger growth and market expansion
New Delhi, July 31, 2023: EaseMyTrip.com, one of India’s largest online travel tech platforms announces the approval of EaseMyTrip’s board to acquire 51% of the aggregate paid-up share capital of each of the three prominent travel companies incorporated in India, to solidify its position as a major player in the travel and tourism industry. The consideration for the proposed acquisition will be paid by EaseMyTrip by way of issuance of its equity shares to the selling shareholders of the respective target companies on a preferential basis.
EaseMyTrip has quintessentially been one of India’s preferred travel partners and they are proactively expanding through acquisition of companies in order to have a prominent market presence. The trio of eclectic companies that the company proposes to acquire includes – Guideline Travels Holidays India Private Limited, Mumbai, TripShope Travel Technologies Private Limited, Jammu and Kashmir and Dook Travels Private Limited, New Delhi.
Guideline Travels Holidays India Private Limited, Mumbai:
Guideline Travels, a highly reputed travel company that excels in both B2C and B2B circuits. The company boasts an extensive product portfolio international group tours, bespoke FIT ventures, fixed departures and MICE movements and has its major business line in cruises.
TripShope Travel Technologies Private Limited, Jammu and Kashmir:
TripShope Online, a travel and leisure solution provider based in Kashmir, offering a wide range of travel products, including flights, holidays, hotels, and more. The company’s dedication to providing exceptional travel experiences at the best available prices has garnered a loyal customer base.
Dook Travels Private Limited, New Delhi:
Dook Travels is a renowned integrated Travel Management Company based in Delhi, operating across CIS countries, Turkey, the UAE, and India. The company has established itself as the biggest DMC for CIS countries, serving a vast customer base of over 1 lakh tourists in the past 8 years.
Commenting on the acquisition, Mr. Nishant Pitti, Co-Founder of EaseMyTrip, “These three companies have a strong track record and a wealth of experience in their respective areas. Together, with these remarkable travel companies, we extend and embrace to a diverse spectrum of exceptional services catering to larger markets. Together, we are poised to ignite the wanderlust of countless explorers, crafting unforgettable journeys that resonate with every soul and paint the world with the colors of adventure and discovery.’’
“Being pioneers at cruise selling, we sought an aggressive online selling platform for cruise products around the world. Our partnership with EaseMyTrip gives us a big thrust to bring a bouquet of cruise products to our B2B as well B2C clients. Partnership with EaseMyTrip opens up our horizons and will allow us to bring to fruition our vision hence propelling Guideline Travels to new heights.” – Mr. Pradeep Saboo, Director of Guideline Travels.
“This is going to be a quantum leap in the travel, tourism and employment generation of Jammu and Kashmir,” Adil Sathu, Founder and COO, Tripshope, “The brand equity of EaseMyTrip is also going to help us expand in Jammu and Kashmir, apart from other parts of the country,” he added.
“Tourism for CIS destinations is poised to grow exponentially for next several years because of increasing air connectivity, simplification of visa process and cordial bilateral relations with India.
We together shall be able to leverage our positions as market leader in CIS destinations through our extensive agent network, strong hold in airlines and EaseMyTrip’s extensive customer name and brand value.’’- Sandeep Gupta, Director, Dook Travels.
EaseMyTrip expresses its commitment to maintaining the unique identities of the acquired companies while fostering synergies to achieve operational efficiencies and deliver enhanced value to customers. The consolidation of talent, resources, and knowledge is expected to drive growth, innovation, and an enriched travel experience for all stakeholders involved.
*The proposed acquisitions is subject to completion of customary condition precedents, shareholders’ approval, and any other regulatory approval as may be required under the applicable law(s)..