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Source: IBEF

“On Thursday, Flipkart, an ecommerce marketplace, announced to acquire Cleartrip, an online travel technology firm. Flipkart announced to purchase 100% shareholding of Cleartrip as the company expands its investments to broaden its digital commerce offerings for customers.

Cleartrip would keep operating as a separate brand, with all staff remaining in place, while working in conjunction with Flipkart to create technology solutions that make travel more convenient for customers. Mr. Kalyan Krishnamurthy, CEO of Flipkart Group, said, “For many customers, Cleartrip is identified with travel, and as we broaden and search for new aspects of technology, this investment would enable us strengthen our broad range of customer offerings.”

In a statement, he said, “”We welcome the Cleartrip team to the Flipkart Group with their extensive industry knowledge and technology expertise and look forward to delivering greater benefit and travel experiences for customers together.””

Cleartrip’s CEO and co-founder, Mr. Stuart Crighton said, “The platform has been a leader in leveraging technology to streamline the travel experience for its customers.”

He said, “We have become the chosen travel partner for consumers in a broad range of sectors across the region as a result of our product-driven emphasis. We’re thrilled to be a part of the Flipkart family, and we’re looking forward to seeing how this partnership can impact our customers and the travel industry at large.” The deal’s completion will be contingent on regulatory approvals.”