Yatra Online, Inc. successfully completed the acquisition of Globe All India Services (Globe Travels) on September 11, 2024. The transaction was finalized for an aggregate purchase price of INR 1,280.0 million, equivalent to USD 15.3 million, paid in cash after net debt and working capital adjustments. This strategic move is expected to bolster Yatra's market presence.
The acquisition brings approximately 360 new corporate clients to Yatra's portfolio, significantly expanding its reach in the corporate travel sector. Globe Travels' established expertise in the Meetings, Incentives, Conferences, and Exhibitions (MICE) segment complements Yatra's existing organic growth in this area. This integration positions Yatra as one of India's largest players in the MICE market.
With minimal overlap in client portfolios, the acquisition diversifies Yatra's customer base and creates cross-selling opportunities for hotels and expense management services. Integrating Yatra's digital booking platform with Globe Travel's largely offline business is anticipated to drive synergies, operational efficiencies, and cost savings for corporate clients. The combined entity aims to enhance its competitive positioning in the Indian travel industry.
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