In a significant move, technology investment firm Prosus has successfully concluded the acquisition of Despegar, a leading Latin American online travel company. The two entities jointly announced the deal’s completion, with Prosus acquiring Despegar at $19.50 per share.
This acquisition is a key part of Prosus’s strategic plan to solidify its footprint in Latin America. The company aims to build “a digital lifestyle ecosystem” that will serve over 100 million customers, covering sectors like food delivery, classifieds, travel, experiences, and fintech.
First revealed in late December last year, the deal received approval from Despegar’s board and regulatory greenlights. As per the agreement, a Prosus subsidiary, part of Naspers, will merge with Despegar, leading to Despegar becoming a private entity and delisting from the New York Stock Exchange.
Fabricio Bloisi, Prosus CEO, emphasized the synergy, stating that integrating Despegar with iFood, fintech capabilities, Sympla, and OLX Brazil will enhance customer convenience and open new revenue channels. Damián Scokin, Despegar’s CEO, expressed optimism about leveraging AI expertise from Prosus to drive growth, expand services, and contribute to establishing Prosus as Latin America’s top lifestyle ecosystem brand. This acquisition marks a transformative step for both companies and the region’s digital economy.
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