Walmart-owned Flipkart on Thursday stated it should acquire Cleartrip, an internet journey know-how firm. Flipkart will acquire 100% of Cleartrip’s shareholding as the corporate additional enhances its investments to strengthen its digital commerce choices for patrons, a press release stated.
Under the phrases of the settlement, Cleartrip operations will likely be acquired by Flipkart and Cleartrip will proceed to function as a separate model, it added. All workers of Cleartrip will likely be retained and work carefully with Flipkart to additional develop know-how options to make journey easy for patrons.
The firm, nonetheless, didn’t disclose the worth of the deal. “The Flipkart Group is committed to transforming customer experiences through digital commerce. 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,” Flipkart Group CEO Kalyan Krishnamurthy stated.
He added that the Cleartrip staff, with its deep business information and know-how capabilities, will assist Flipkart Group present deeper worth and journey experiences for patrons. Stuart Crighton, CEO, and co-founder of Cleartrip stated the corporate has been a pioneer in capitalizing on know-how to simplify the journey expertise for our clients.
“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,” he added.
The deal closing will likely be topic to relevant regulatory approvals.
Latest Business News