Indian e-commerce company, Flipkart announced that it will be acquiring Cleartrip, an online travel technology company. The e-commerce made the announcement that it will acquire 100% 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.
“The 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,” said Kalyan Krishnamurthy, CEO of Flipkart Group.
“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.
Commenting on the development, Stuart Crighton, CEO and co-founder of Cleartrip, said: “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”,he added.
The deal closing will be subject to applicable regulatory approvals.