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EaseMyTrip acquires ETrav Tech Limited

2024-05-23 10:49:30 Business


New Delhi, April 01, 2024:, one of India\'s largest online travel tech platforms, announces making a strategic investment in E Trav Tech Limited consisting of 4.94% (post allotment) paid-up equity share capital of ETrav Tech Limited. As a part of the brand\'s expansion strategy to diversify its portfolio, the acquisition translated as a cash deal.

ETrav Tech Limited offers a diverse array of travel-related services, ranging from Flight API, and holiday packages to Hotel API, white label, Bus API, and visa applications. The primary objective of this strategic investment is to acquire a minority interest and strengthen EaseMyTrip\'s B2B segment offerings, catering to the diverse requirements of its corporate clients.

Nishant Pitti, CEO and Co-Founder, EaseMyTrip, said, \"We are aiming at diversifying our portfolio in the non-air segments. After investing in hotels, we now intend to enhance our services for our corporate clientele, and investment with ETrav Tech Limited will be pivotal in the same. Leveraging their tech capabilities and expertise in dealing with B2B clients, we are confident to service our corporate clients better with improved offerings. Strategic decisions like these mark a milestone in our journey and fortify our commitment to providing seamless travel experiences for our customers, backed by innovation and technology.\"

Henil Ruparelia, Managing Director, Etrav Tech Ltd, responds, \"We are delighted to collaborate with EaseMyTrip, a prominent player in the travel industry. Their strategic focus on diversifying into non-air segments aligns perfectly with our vision for expansion and innovation. By combining EaseMyTrip\'s investment with our tech capabilities and B2B expertise, we aim to deliver unparalleled services to corporate clients. This collaboration underscores our commitment to providing seamless travel experiences, driven by technology and customer-centricity. We believe that our combined strengths will enable us to create value-added solutions for corporate travelers, further solidifying our position in the market. We are excited about the opportunities this partnership brings and look forward to achieving mutual success and growth.\"

About EaseMyTrip

EaseMyTrip (a public listed company at NSE and BSE) is India\'s one of largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. Furthermore, growing at a CAGR of 59% during FY20-23 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers \'End to End\' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip offers its users the option of zero-convenience fees during bookings. EaseMyTrip provides its users with access to more than 400 international and domestic airlines, over 2+ million hotels as well as train/bus tickets and taxi rentals for major cities in India. Founded in 2008, EaseMyTrip has offices across various Indian cities, including Noida, Delhi and Gurugram, Bengaluru, and Mumbai. Its international offices (as subsidiary companies) are in the Philippines, Singapore, Thailand, the UAE, the UK, the USA and New Zealand.

About ETrav Tech Limited

ETrav Tech Limited, headquartered at Sur. No. 1420, Ward No.8, NR. Roshni Dept. Stores Swami Vivekanand Road, Vaniyawadi Main Road Rajkot, Gujarat, India, 360002, operates its business from Mumbai. A bootstrap and profitable company with zero debt, Etrav provides comprehensive travel services to B2B travel agents nationwide, covering air tickets, hotel bookings, holiday packages, visa services, travel insurance, car rentals, and bus tickets. Serving over 30,000 travel agents, 600 distributors, and 700 API/whitelabel clients, the company\'s primary revenue stream stems from air ticket sales. Under the leadership of Mr. Henil Ruparelia, Managing Director, Etrav has experienced exponential revenue growth, exceeding 100% from FY 2021-22 to 2022-23. Expanding its horizons, Etrav recently acquired UAE\'s Eagle Crest DMC, incorporating its subsidiaries in Thailand, Bali, and Vietnam. This strategic move diversifies Etrav\'s portfolio and aims for global expansion, poised to enhance its market presence and industry growth. With a strong foundation, innovative services, and visionary leadership, Etrav Tech Ltd is well-positioned for continued success in the dynamic travel industry landscape.

Company :-Value 360 Communications Private Limited

User :- Ritika Kishore


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