Easy Trip Planners Limited to acquire Traviate - India's First B2B Travel Marketplace

Easy Trip Planners Limited has entered into a non-binding agreement with the Traviate Online Private Limited (Investee Company) for acquisition of Investee Company, who is a Travel B2B marketplace. The proposed acquisition will provide Easy Trip Planners Limited access to exploring new opportunities in the Travel sector and to achieve the targets and promoting the same industry. This acquisition is subject to finalization of definitive agreements, customary closing conditions and other necessary approvals, as may be required.

Founded in 2016, Traviate is India's First Travel B2B marketplace that allows B2B channelTravel Agents, Hotels, Tour Operators, DMCs and other players in the Travel ecosystem to connect and transact amongst each other. This is facilitated by a strong suite of tech tools powering B2B channel to optimize their daily operations, build a robust supply while offering their customers a better user experience.

Traviate has built a robust and scalable technology listing more than 1.2 million properties and has enabled more than 2 Lakh transactions to date. In 2018, Traviate joined hands with the Travel Agents Federation of India (TAFI) for the launch of TAFIConnect - a platform powered by Traviate's technology that allowed TAFI membership to connect and transact with each other. This increased the ease of business between the members while allowing them to consume travel content from multiple offline and online suppliers and manage their operations much more efficiently.

Even today, 70% of hotel inventory is sold by the B2B channels where the wave of digital innovation is starting to gain momentum and Traviate's technology and leadership in the B2B travel marketplace, puts it at the right place to ride that wave.

Shares of Easy Trip Planners Limited was last trading in BSE at Rs. 468.60 as compared to the previous close of Rs. 479.65. The total number of shares traded during the day was 32775 in over 2431 trades.

The stock hit an intraday high of Rs. 490.00 and intraday low of 460.05. The net turnover during the day was Rs. 15390423.00.

Source : Equity Bulls

Keywords

EasyTripPlanners INE07O001018 EASEMYTRIP Acquisition Traviate