A statement said that Cleartrip operations will be acquired by Flipkart and Cleartrip will continue to operate as a separate brand
Walmart-owned Flipkart said on April 15 that it would acquire Cleartrip, an online travel technology company.
A statement said Flipkart will acquire 100% of Cleartrip’s shareholding as the company increases its investment to strengthen its digital commerce offerings for customers.
Under the deal, Cleartrip operations will be acquired by Flipkart and Cleartrip will continue to operate as a separate brand, the couple added.
All Cleartrip employees will be retained and will work closely with Flipkart to develop technology solutions to simplify travel for customers.
The company, however, did not disclose the value of the deal.
“The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we look at new areas of diversity and growth, this investment is our broad offering to customers. Will help strengthen the growth, ”said Flipkart Group CEO Kalyan Krishnamurthy.
He said that the Cleartrip team, with its in-depth industry knowledge and technology capabilities, will help the Flipkart Group deliver deeper value and travel experiences for customers.
Cleartrip CEO and co-founder Stuart Crighton said the company had been a leader in capitalizing technology to make the travel experience easier for our customers.
“The product-driven focus has enabled us to be the preferred travel partner for consumers in the region’s markets,” he said.
The closing of the deal will be subject to applicable regulatory approval.
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