Indian online travel agency Yatra.com has acquired one of its competitors, Travelguru, from US-based online travel giant Travelocity.
Travelocity, a part of Texas-based travel marketing and distribution company Sabre Holdings, had purchased Travelguru back in 2009 with the aim of expanding its reach in the domestic hotel industry. It’s unclear why the company decided to sell it.
Yatra.com, which has raised dozens of millions of dollars in funding from firms like Intel Capital, Norwest Venture Partners, Reliance Capital and Valiant Capital Management, says it will continue to operate Travelguru as a separate entity under its existing brand name.
Founded in August 2006, Yatra.com has been on quite the acquisition spree of late. Previously, the Gurgaon, Haryana-based company acquired ticket consolidator Travel Services International to boost its B2B offering.
In July 2011, Yatra.com acquired hotel aggregation company MagicRooms and, in January 2012, event and entertainment promotion portal Buzzintown.
The acquisition of Travelguru fits in nicely. Travelguru is said to be India’s largest hotel distribution network offering access to more than 6,500 hotels in India and 72,000 hotels worldwide.
Financial terms of the acquisition were not disclosed, but the rumor mill has produced a figure of $20 million in cash.
Yatra.com’s biggest rivals in India are MakeMyTrip and Cleartrip.
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