Prosus (a global technology company) and Despegar (Latin America’s leading online travel agency) jointly announced the completion of Prosus’s acquisition of Despegar at a purchase price of $19.50 per share.
The deal will be completed after it is approved by Despegar’s board of directors and shareholders and after all required regulatory clearances are received.
This deal marks a significant milestone in Prosus’s strategy to expand and strengthen its presence in Latin America. The group is creating a digital lifestyle ecosystem serving over 100 million customers in food delivery, classifieds, travel, experiences, and fintech.
KEY QUOTES:
“With Despegar joining the Prosus family, we’re accelerating our vision to build the most dynamic lifestyle ecommerce ecosystems across Latin America, India, and Europe. By adding Latin America’s top travel platform to our portfolio and leveraging iFood’s scale, our fintech capabilities, Sympla’s events and experiences, and OLX Brazil, we will unlock greater convenience for customers and open exciting new revenue streams. We are redefining lifestyle ecommerce by creating experiences that don’t just meet needs, but anticipate them.”
Fabricio Bloisi, CEO of Prosus Group
“With Prosus as our partner, we will benefit from scale and expertise in AI to accelerate growth and expand our service portfolio. We will continue to accelerate innovation, and set new standards in the travel market, while also contributing to building Prosus’s position as Latin America’s premier lifestyle ecosystem brand.”
Damián Scokin, CEO of Despegar
