Amsterdam-based Prosus, a world shopper web group, on Monday, introduced that it’s set to accumulate Despegar, a Latin American On-line Journey Company (OTA), for $19.50 per share, totalling $1.7B (roughly €1.6B).
This supply represents a 33 per cent premium over Despegar’s closing share worth as of December 20, 2024, and a 34 per cent premium in comparison with the corporate’s 90-day quantity weighted common worth (VWAP).
Despegar’s board of administrators has authorised the acquisition.
Fabricio Bloisi, CEO of Prosus Group, says, “This acquisition is a transparent demonstration of our technique to construct worth by making a high-quality ecosystem of complementary companies. Despegar is a extremely worthwhile firm, with a lovely market place, and an skilled administration crew – making it a pure addition to our presence in Latin America. We’ll speed up Despegar’s development by leveraging the in depth buyer touchpoints inside our portfolio, together with our operational experience and superior AI capabilities.”
The transaction introduces a major and compelling addition to Prosus’s Latin America ecosystem, which, post-transaction, will develop to serve over 100M prospects throughout native e-commerce, journey, and fintech sectors.
Despegar operates in over 19 Latin American markets with two primary enterprise fashions.
The primary is a B2C platform that connects with prospects by way of an internet site, cell app, and chat choices powered by the AI assistant Sofia.
The second is a rising B2B phase that provides white-label options to companions like banks, airways, and retailers.
The corporate handles over 9.5M transactions yearly, producing $5.3B in gross bookings, and $706M in income, and delivering a reported EBITDA of $116M primarily based on its full-year 2023 outcomes.
By means of this acquisition, Prosus plans to create synergies between Despegar and its different regional companies, similar to iFood, Latin America’s main meals supply platform with 60M prospects per 12 months, and Sympla, a outstanding occasions platform.
The transaction is predicated on customary phrases and situations. It wants approval from Despegar’s shareholders and regulatory businesses earlier than closing, which is anticipated to occur within the second quarter of 2025.
Damián Scokin, CEO of Despegar, says, “That is an thrilling growth that delivers a terrific consequence for Despegar stakeholders. The transaction represents important worth for our stockholders, and I’m satisfied that Prosus is the best accomplice to drive our subsequent development section. For our prospects, this implies entry to an expanded portfolio of providers, higher experiences, larger loyalty advantages, and extra full options tailor-made to their wants. Prosus has a confirmed observe report of constructing main tech companies worldwide, and their deep understanding of the Latin American ecosystem uniquely positions them to drive our subsequent section of development.”
Prosus: World shopper web group
Led by Fabricio Bloisi, Prosus is a world web group and main know-how investor.
The corporate focuses on high-growth markets and creates shopper Web companies that profit folks and communities.
The group is targeted on constructing significant companies within the on-line classifieds, meals supply, funds and fintech, and schooling know-how sectors.
By means of the Prosus Ventures crew, the group invests in new know-how development alternatives inside AI, social and e-commerce platforms, fintech, B2B software program, logistics, well being, blockchain, agriculture, and extra.
“Latin America is a market we all know and perceive properly, with actual GDP development of 2-3% anticipated subsequent 12 months and promising medium to long-term prospects. Coupled with that, on-line journey is increasing considerably all over the world and the alternatives within the Latin America area give us confidence that we are able to work with Despegar to take the enterprise to the following degree. This funding will function a robust instance of how we are able to construct worth by integrating companies into our ecosystem, driving development, innovation, and lasting affect,” provides Bloisi
