Online travel portal, EaseMyTrip has inked a non-binding agreement to takeover the travel B2B marketplace Traviate Online.
said that the suggested acquisition will help its parent company – Easy Trip Planners to access new opportunities in the travel sector.
The acquisition will be confirmed after definitive agreements, customary closing conditions and other necessary approvals. “Upon execution of the definitive agreements, we shall update you along with detailed disclosures required to be submitted pursuant to SEBI Circular dated September 09, 201,” the company statement added.
Traviate, the investee company, was founded in 2016 and allows B2B channels, travel agents, hotels, tour operators, DMCs and other players in the travel ecosystem to connect and transact amongst each other. Traviate claims to build a robust and scalable technology listing more than 1.2 million properties and has enabled more than 2 lakh transactions to date.
Founded in 2008 by Nishant Pitti and Rikant Pitti, EaseMyTrip provides deals on flight booking, hotels and holiday packages. The company filed its DRHP for a $72 mn IPO with the market regulator SEBI last year and got listed in March 2021.
