Wego to acquire Cleartrip’s Middle East business from Flipkart
Wego, an online travel marketplace in the Middle East and North Africa (MENA) region, announced it has signed a definitive agreement with Flipkart to acquire Cleartrip’s Middle East business.
This transaction also includes the sale of Flyin.com and a technology co-operation agreement between Wego and Flipkart. The boards of directors of Wego and Flipkart have approved the transaction which is expected to close in the second half of 2022, subject to customary closing conditions and regulatory approvals. Cleartrip is a pioneer of online travel in India. It expanded organically into the Middle East in 2010 and acquired Riyadh-based Flyin.com in 2018.
Ross Veitch, CEO & Co-Founder of Wego, said, “We are excited to welcome Cleartrip Middle East and Flyin into the Wego group. The Middle East is set to be one of the most exciting growth stories of the next decade with the travel and technology sectors taking centre stage and with the Wego group playing a very crucial role. Stuart Crighton, Co-Founder and Head of Cleartrip’s International Business, said, “Our focus is to build a world-class online travel business.” (source BL)