The transaction is said to be an important step for Cleartrip as it can now offer customers its user experience through the categories of Air Accommodation and Experiences.
Saudi Arabia’s largest online travel aggregator Flyin, is being acquired by Cleartrip, reports stated. The acquisition allows Cleartrip to grow to a wider audience and gain a larger client base while enhancing its competence in the Middle East and North Africa (MENA) region. Reportedly, the deal is worth $50 million but the transactions haven’t been disclosed officially.
Head of MA and Strategy at Cleartrip, Aditya Agarwal said that about 40% of their business will come from international operations and is likely to grow further with this acquisition. The company will have a 60% market share combined, in the online travel booking market across the GCC region after the combine. Beneficial for both Cleartrip and Flyin, the deal can help them with the growing shift to online travel bookings in the MENA region. Home to the world’s highest smartphone and internet usage, MENA has a large population of tech-savvy customers. Cleartrip is on paths of boosting its strategies in the region after acquiring Flyin. The company focuses on delivering an intuitive product and excellent customer experience which has made it one of the leading travel booking platforms in India and The Middle East.
Founder and CEO of Cleartrip, Stuart Crighton said that the company is moving forward with its aggressive expansion plans in The Middle East and North Africa region and calls the Flyin acquisition a major milestone in its journey. Founded in 2006, Cleartrip offers its customers a personalized travel experience. the company has booked about 1.5 billion hotel room nights and sold over 10 million flight tickets annually. Flyin was founded in 2008 and has direct access to more than 450 airlines, 320K hotels and a huge network of travel services.