The deal closing will be subject to applicable regulatory approvals.
Walmart-owned e-commerce giant Flipkart announced its proposed acquisition of leading online travel company Cleartrip on Thursday, April 15. The homegrown e-commerce marketplace will acquire 100 per cent of Cleartrip's shareholding, as the company looks to raise investments, in order to strengthen its digital commerce offerings for customers. According to a statement released by the company, Cleartrip operations will be acquired by Flipkart as part of the terms of the agreement.
Meanwhile, Cleartrip will continue to operate as a separate brand, retaining all its employees while working closely with the Flipkart group to develop technology solutions for making travel easier for customers. The deal closing will be subject to applicable regulatory approvals.
''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. 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,'' said Kalyan Krishnamurthy, CEO, Flipkart Group.
“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,'' said Stuart Crighton, CEO and Co-founder of Cleartrip.
