Despegar Completes Acquisition of 100% of Brazilian Online Travel Agency Viajanet
BRITISH VIRGIN ISLANDS–(BUSINESS WIRE)–Despegar.com, Corp. (NYSE: DESP) (“Despegar”), the leading online travel company in Latin…
BRITISH VIRGIN ISLANDS–(BUSINESS WIRE)–Despegar.com, Corp. (NYSE: DESP) (“Despegar”), the leading online travel company in Latin America, today announced that it has completed the previously announced (May 6, 2022 – link) acquisition of 100% of TVLX Viagens e Turismo S.A (“Viajanet”), one of Brazil’s leading online travel agencies, for a total consideration of approximately US$15.5 million, which will be subject to customary post-closing adjustments. Seventeen percent of total consideration was paid following the consummation of the transaction, 43% is expected to be paid in July 2022, 20% in June 2024 and the remaining 20% in June 2025, subject to any post-closing indemnification adjustments.
Despegar is the leading online travel company in Latin America. For over two decades, it has revolutionized the tourism industry through technology. With its continuous commitment to the development of the sector, Despegar today is comprised of a consolidated Group that includes Best Day, Viajes Falabella, Viajanet and Koin, (the Company’s fintech business) in turn becoming one of the most relevant companies in the region and able to offer a tailor-made experience for more than 29 million customers.
Despegar operates in 20 countries in the region, accompanying Latin Americans from the moment they dream of traveling until they share their memories. With the purpose of improving people’s lives and transforming the shopping experience, it has developed alternative payment methods and financing, democratizing access to consumption and bringing Latin Americans closer to their next travel experience. Despegar is traded on the New York Stock Exchange (NYSE: DESP). For more information, please visit www.despegar.com.
This press release includes forward-looking statements. We base these forward-looking statements on our current beliefs, expectations and projections about future events and financial trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements.