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Flipkart to acquire online travel tech firm Cleartrip
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SME Times News Bureau | 15 Apr, 2021
E-commerce major Flipkart will acquire online travel technology company Cleartrip.
A
statement from Flipkart on Thursday said that it will acquire 100 per
cent of Cleartrip's shareholding, as the company further enhances its
investments to strengthen its digital commerce offerings for customers.
Under
the terms of 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, it
added.
Kalyan Krishnamurthy, CEO, Flipkart Group, said that
Cleartrip is synonymous with travel for many customers, and as Flipkart
diversifies and looks at new areas of growth, this investment will help
strengthen its 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,"
he said.
Stuart Crighton, CEO and co-founder of Cleartrip said
that Cleartrip has been a pioneer in capitalising 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 for our
customers and the travel industry in general," Crighton said.
The deal closing will be subject to applicable regulatory approvals.
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