Despegar to acquire 100% of Viajanet, an online travel agency in Brazil
BRITISH VIRGIN ISLANDS–(BUSINESS WIRE)–Despegar.com, Corp. (NYSE: DESP) (“Despegar”), Latin America’s leading online travel company, today announced that it has agreed to acquire TVLX Viagens e Turismo SA (“Viajanet”), a from leading online travel agencies in Brazil, for a total consideration of approximately US$15 million and subject to customary closing conditions. Under the terms of the agreement, 60% of the purchase price will be payable at closing, 20% in 24 months and the remaining 20% in 36 months.
Viajanet had audited revenue of approximately US$30 million in 2019. In 2021, Viajanet’s online sales accounted for approximately 98% of total sales, with 88% of gross bookings coming from the B2C channel and the remainder through the channel. B2B. Additionally, 98% of gross bookings were in the air segment of the Brazilian travel market, giving Despegar the opportunity to sell its accommodations and other non-air product inventory to existing Viajanet customers.
Mr. Marcelo Grether, Chief M&A & New Business Officer of Despegar, said: “The acquisition of Viajanet, our third in the past two years in Brazil, is another step in our regional consolidation strategy that will allow us to deploy more of Despegar’s higher-margin non-airline inventory through through a new brand and its customer base while strengthening our team in the country. We plan to capture other significant synergies by leveraging Despegar’s technology platform to improve Viajanet’s conversion rates and performance marketing capabilities, among other benefits.
Mr. Paulo Nascimento, Managing Director of Viajanet, added: “We are delighted to join the team of Despegar, a leading player in the Latin American travel market. Being part of Despegar will give our customers access to a larger and more diverse inventory of travel products while benefiting from the innovative technology capabilities of its leading travel site.
Closing of the transaction is expected to occur in the second quarter of 2022.
Despegar is the leading online travel agency in Latin America. For more than two decades, he has revolutionized the tourism industry through technology. With its continued commitment to the development of the sector, today Despegar is made up of a consolidated group that includes Best Day, Viajes Falabella and Koin, (the fintech activity of the company) becoming in turn one of the most most relevant in the region and able to offer a tailor-made experience to more than 29 million customers.
Despegar operates in 20 countries in the region, supporting Latin Americans from the moment they dream of traveling until they share their memories. With the aim of improving people’s lives and transforming the shopping experience, she has developed alternative payment and financing methods, democratizing access to consumption and bringing Latin Americans closer to their next shopping experience. travel. Despegar is listed on the New York Stock Exchange (NYSE: DESP). For more information, please visit www.despegar.com.
This press release contains forward-looking statements. We base these forward-looking statements on our current beliefs, expectations and projections regarding future events and financial trends affecting our business and our market. Many important factors could cause our actual results to differ materially 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 publicly update or revise any forward-looking statements.
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