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AMSTERDAM - Prosus (OTC:PROSF) NV (AEX:PRX), a global technology investor, has completed the acquisition of Despegar.com (NYSE:DESP), a leading online travel agency in Latin America, for $19.50 per share. The transaction, which was finalized today following approvals from Despegar’s board and shareholders, along with regulatory clearances, signifies a major expansion of Prosus’s digital lifestyle ecosystem in the region.
The acquisition is a strategic move by Prosus to enhance its offerings in Latin America, where it already serves over 100 million customers through various platforms, including food delivery, classifieds, travel, experiences, and fintech. The addition of Despegar to its portfolio is expected to create synergies with existing services and provide new revenue opportunities.
Fabricio Bloisi, CEO of Prosus Group, emphasized the potential for growth and innovation brought by this acquisition. "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," said Bloisi.
Damián Scokin, CEO of Despegar, expressed optimism about the benefits of joining forces with Prosus. He highlighted the advantages of scale and expertise in AI that Prosus brings, which are expected to accelerate growth and service expansion for Despegar. "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," Scokin stated.
The acquisition is part of Prosus’s ongoing strategy to build dynamic lifestyle ecommerce ecosystems not only in Latin America but also in India and Europe. The company’s aim is to create experiences that anticipate and exceed customer needs.
This announcement is based on a press release statement.
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