The chatter that Walmart-owned Flipkart is looking to buy online travel aggregator Cleartrip has been making headlines for more than a month now. Finally, the deal was announced today.
Flipkart, India’s homegrown e-commerce marketplace today announced the proposed acquisition of Cleartrip, a leading online travel technology company. Flipkart will acquire 100% of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers. Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simple for customers.
This acquisition is being pegged by the business press