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ONLINE TRAVEL TECHNOLOGY FIRM CLEARTRIP: FLIPKART’S NEWEST ACQUISITION

Highlights
• According to a statement issued by the Indian e-commerce company on Thursday, it will be acquiring 100 per cent of Cleartrip’s shareholding
• The statement said as per the terms of the agreement, Cleartrip operations will be taken over by Flipkart

E-commerce giant Flipkart is all set to acquire online travel technology company Cleartrip. According to a statement issued by the Indian e-commerce company on Thursday, it will be acquiring 100 per cent of Cleartrip’s shareholding.
The statement said as per the terms of the agreement, Cleartrip operations will be taken over by Flipkart, while Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simple for customers.
According to Flipkart Group CEO Kalyan Krishnamurthy, Cleartrip is synonymous with travel for many customers, and as Flipkart diversifies and looks at new areas of growth, this investment will help strengthen its wide range of offerings for customers.
He said “We welcome the Cleartrip team with their deep industry knowledge and technology capabilities to the Flipkart Group and look forward to providing deeper value and travel experiences for customers together.”
On the other hand, Cleartrip co-founder and CEO Stuart Crighton said “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. We are delighted to be part of the Flipkart family and are excited about the positive impact this collaboration can have for our customers and the travel industry in general.”

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