The Indian online travel portal Ease My Trip has finalized a non-binding agreement to acquire Traviate, a B2B travel marketplace.
As BusinessToday reported Thursday (Oct. 28), Ease My Trip says the deal will give its parent company — Easy Trip Planners Limited — access to new travel sector opportunities.
Founded in 2016, Traviate connects B2B channels, travel agents, hotels and tour operators and other travel world players. The company says its network includes a listing of more than 1.2 million properties and has enabled more than 200,000 transactions to date.
EaseMyTrip was founded in 2008 by Nishant Pitti and Rikant Pitti and provides deals on flights, hotel stays and vacation packages. The company went public earlier this year with a $72 million initial public offering (IPO).
The company’s acquisition of Traviate will become final after definitive agreements, customary closing conditions and other approvals are settled.
Read more: Hotel Payment Software Platform Selfbook Grabs $25M in Funding
This announcement comes one day after the hotel payment software startup Selfbook announced a $25 million Series A. The company allows hotels to accept one-click payments on their sites, and supports Apple Pay, Google Pay and PayPal, along with traditional credit cards and debit cards.
Selfbook lets guests pay in installments, with the platform’s system integrated with SevenRooms, Mindbody and SynXis to combine charges from a hotel’s restaurants, spas and other activities.
Read more: Indian Hotel Chain Oyo Preps $1.1B IPO
Earlier this month, another player in the Indian travel sector, Oyo, announced it plans to raise $1.16 billion through an IPO.
The company has said it would use income from the IPO to pay its obligations and fuel growth, potentially through mergers and acquisitions.
Oyo has a turnkey business model: In exchange for room prices and bookings, independent hotel owners get a portion of the revenue and fees they collect, provided they agree to rebrand themselves as an Oyo property.
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