Despegar to Acquire Brazilian Online Travel Agency Viajanet for USD 15m.
MANews-(C)2009-2022
BVI-based online travel company Despegar.com, Corp. (NYSE: DESP) has agreed to acquire Brazil-based online travel agency TVLX Viagens e Turismo S.A for a total consideration of approximately USD 15m, the company said.
Under the terms of the agreement, 60% of the purchase price will be payable at closing, 20% in 24 months and the remaining 20% in 36 months. The closing of the transaction is expected to take place in 2Q22.
Viajanet recorded audited revenues of approximately USD 30m in 2019.
During 2021, Viajanet's online sales accounted for approximately 98% of total sales, with 88% of Gross Bookings...
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