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Tech investor Prosus has reached an agreement to acquire Latin American online travel booking platform Despegar. The two parties announced this earlier this week.
The offer, which has been approved by Despegar’s board of directors, includes $1.7 billion and is still being submitted to Despegar shareholders and regulators. Prosus expects to complete the transaction in the second quarter of 2025.
Despegar operates in 19 Latin American countries with an online travel booking platform aimed at both consumers and businesses. Founded in 1999 in Argentina, the company now handles 9.5 million transactions annually for a total of $5.3 billion in bookings.
With the acquisition, Prosus further expands its operations in Latin America, allowing it to serve more than 100 million customers in the post-acquisition region in the e-commerce, travel and fintech sectors.
© The Content Exchange, source News
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