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Prosus Bets Big On Latin American Travel: $1.7B Despegar Acquisition
(MENAFN- The Rio Times) In a bold move to dominate Latin America's digital landscape, Dutch tech giant Prosus has agreed to acquire Despegar for $1.7 billion. This deal marks a significant shift in the region's online travel market, potentially reshaping how millions book their trips.
Despegar, Latin America's leading online travel agency, operates in 19 countries and handles over 9.5 million transactions annually. The acquisition price of $19.50 per share represents a 33% premium over recent trading prices.
This signals Prosus's confidence in Despegar 's value and growth potential. For Prosus, this acquisition is more than just a new addition to its portfolio.
It's a strategic play to create a comprehensive ecosystem in Latin America, combining Despegar with its existing investments in food delivery (iFood ) and event ticketing (Sympla).
Post-acquisition, Prosus expects to serve over 100 million customers across various sectors in the region. The deal also highlights the growing importance of Latin America's digital economy.
As internet penetration and middle-class growth continue, the region presents significant opportunities for e-commerce expansion. Prosus's investment in Despegar positions it to capitalize on these trends.
Fabricio Bloisi, CEO of Prosus, emphasized the potential for synergy: "We will accelerate Despegar's growth by leveraging the extensive customer touchpoints within our portfolio, along with our operational expertise and advanced AI capabilities."
While the transaction still requires regulatory approvals, it's expected to close in Q2 2025. Upon completion, Despegar will delist from the New York Stock Exchange and operate as a private company under Prosus's umbrella.
Despegar, Latin America's leading online travel agency, operates in 19 countries and handles over 9.5 million transactions annually. The acquisition price of $19.50 per share represents a 33% premium over recent trading prices.
This signals Prosus's confidence in Despegar 's value and growth potential. For Prosus, this acquisition is more than just a new addition to its portfolio.
It's a strategic play to create a comprehensive ecosystem in Latin America, combining Despegar with its existing investments in food delivery (iFood ) and event ticketing (Sympla).
Post-acquisition, Prosus expects to serve over 100 million customers across various sectors in the region. The deal also highlights the growing importance of Latin America's digital economy.
As internet penetration and middle-class growth continue, the region presents significant opportunities for e-commerce expansion. Prosus's investment in Despegar positions it to capitalize on these trends.
Fabricio Bloisi, CEO of Prosus, emphasized the potential for synergy: "We will accelerate Despegar's growth by leveraging the extensive customer touchpoints within our portfolio, along with our operational expertise and advanced AI capabilities."
While the transaction still requires regulatory approvals, it's expected to close in Q2 2025. Upon completion, Despegar will delist from the New York Stock Exchange and operate as a private company under Prosus's umbrella.
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