TBM Staff - Mumbai EaseMyTrip.com has received its board’s approval to acquire 51% of the aggregate paid-up share capital of each of the three prominent travel companies incorporated in India, to solidify its position as a major player in the travel and tourism industry.
The consideration for the proposed acquisition will be paid by EaseMyTrip by way of issuance of its equity shares to the selling shareholders of the respective target companies on a preferential basis. EaseMyTrip is proactively expanding through acquisition of companies in order to have a prominent market presence. The trio of these companies that the company proposes to acquire includes – Guideline Travels Holidays India Private Limited, Mumbai, TripShope Travel Technologies Private Limited, Jammu and Kashmir and Dook Travels Private Limited, New Delhi.
Commenting on the acquisition, Nishant Pitti, Co-Founder of EaseMyTrip, “These three companies have a strong track record and a wealth of experience in their respective areas. Together, with these remarkable travel companies, we extend and embrace to a diverse spectrum of exceptional services catering to larger markets. Together, we are poised to ignite the wanderlust of countless explorers, crafting unforgettable journeys that resonate with every soul and paint the world with the colors of adventure and discovery.’’
“Being pioneers at cruise selling, we sought an aggressive online selling platform for cruise products around the world. Our partnership with EaseMyTrip gives us a big thrust to bring a bouquet of cruise products to our B2B as well B2C clients. Partnership with EaseMyTrip opens up our horizons and will allow us to bring to fruition our vision hence propelling Guideline Travels to new height,” said Pradeep Saboo, Director of Guideline Travels.
“This is going to be a quantum leap in the travel, tourism and employment generation of Jammu and Kashmir,” said Adil Sathu, Founder and COO, Tripshope, “The brand equity of EaseMyTrip is also going to help us expand in Jammu and Kashmir, apart from other parts of the country,” he added.
“Tourism for CIS destinations is poised to grow exponentially for next several years because of increasing air connectivity, simplification of visa process and cordial bilateral relations with India. We together shall be able to leverage our positions as market leader in CIS destinations through our extensive agent network, strong hold in airlines and EaseMyTrip’s extensive customer name and brand value,’’ said Sandeep Gupta, Director, Dook Travels.
EaseMyTrip is firm to maintain the unique identities of the acquired companies while fostering synergies to achieve operational efficiencies and deliver enhanced value to customers. The consolidation of talent, resources, and knowledge is expected to drive growth, innovation, and an enriched travel experience for all stakeholders involved.
*The proposed acquisitions is subject to completion of customary condition precedents, shareholders’ approval, and any other regulatory approval as may be required under the applicable law(s).
