Despegar has been acquired

Prosus, a technology investment firm based in the Netherlands, is acquiring Latin America-based online travel agency Despegar for $1.7 billion in an all-cash deal

Prosus said the acquisition will expand its reach to more than 100 million customers in Latin America in sectors such as travel, e-commerce and fintech. The company also aims to drive synergies between Despegar and its other regional businesses, including food delivery platform iFood and events platform Sympia.

Key takeaways

• Subject to approval by shareholders, including Expedia Group, Despegar will become a privately held company and will be delisted from the New York Stock Exchange;
• As part of the Prosus Group, Despegar will be able to accelerate its growth plans. "This strategic move will not only strengthen Despegar's market position, but also enhance its ability to innovate and compete," the company said;
• Until recently, Prosus held a stake in Trip.com, but reportedly sold it in September for $743 million. Founded in 1999, Despegar operates in 19 markets throughout Latin America.

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