Despegar Completes Acquisition of 100% of Brazilian Online Travel Agency Viajanet
BRITISH VIRGIN ISLANDS–(BUSINESS WIRE)–Despegar.com, Corp. (NYSE: DESP) (“Despegar”), Latin America’s leading online travel agency, today announced that it has completed the previously announced announcement (May 6, 2022 – link) acquisition of 100% of TVLX Viagens e Turismo SA (“Viajanet”), one of Brazil’s leading online travel agencies, for total consideration of approximately US$15.5 million, which will be subject to adjustments usual after closing. Seventeen percent of the total consideration has been paid after completion 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 indemnification adjustments after closing.
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, Viajanet and Koin, (the fintech activity of the company) becoming in turn one of the largest companies 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.