Singaporean travel metasearch engine– Wego–announced on Monday that it is going to buy Cleartrip’s Middle East business from the Flipkart Group.
The companies did not disclose the amount of the deal.
Besides, the deal includes the sale of Flyin.com and a technology cooperation agreement between Wego and Flipkart.
Cleartrip stretched its reach to the Middle East region market in 2010 via the acquisition of Riyadh based Flyin.com in 2018, which was trying out kick-starting online travel in Saudi Arabia.
Wego and Cleartrip have regional headquarters in Dubai.
The Board Of Directors (BOD) of Wego and Flipkart have given their approval for this transaction.
“This acquisition will significantly increase our scale and capabilities and will strengthen our ability to partner and collaborate across our region,” said Ross Veitch, CEO and Co-Founder of Wego.
The acquisition shall close in the second half of this year.
“The opportunity in travel tech for India is vast, and through Cleartrip, we have been able to provide our customers with a wide range of travel experiences and deeper value,” said Ravi Iyer, Senior Vice President and Head – Corporate Development, Flipkart. “Given our strategic priorities and focus on the Indian market, the acquisition of Cleartrip’s Middle East business by Wego provides continuity to its business, and we believe that they are the right partners to boost its next phase of growth. We thank Stuart for his leadership and partnership over the past year as Cleartrip India has become an integral part of the Flipkart Group and wish him and the Wego team continued success.”
Wego was founded in 2015 and is the largest online travel marketplace in the Middle East and North Africa (MENA) region.
“Our focus is clear, building a world-class online travel business emanating from the Middle East but with global ambitions,” said Stuart Crighton, Co-Founder and Head of Cleartrip’s International Business.