Amsterdam-based Prosus, a worldwide 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 permitted 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 workforce – making it a pure addition to our presence in Latin America. We are going to speed up Despegar’s progress 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 important enterprise fashions.
The primary is a B2C platform that connects with prospects via a web site, cellular app, and chat choices powered by the AI assistant Sofia.
The second is a rising B2B phase that gives 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 based mostly on its full-year 2023 outcomes.
By way of this acquisition, Prosus plans to create synergies between Despegar and its different regional companies, equivalent to iFood, Latin America’s main meals supply platform with 60M prospects per 12 months, and Sympla, a distinguished occasions platform.
The transaction is predicated on commonplace phrases and circumstances. It wants approval from Despegar’s shareholders and regulatory companies earlier than closing, which is predicted to occur within the second quarter of 2025.
Damián Scokin, CEO of Despegar, says, “That is an thrilling growth that delivers an excellent end result for Despegar stakeholders. The transaction represents important worth for our stockholders, and I’m satisfied that Prosus is the perfect associate to drive our subsequent progress section. For our prospects, this implies entry to an expanded portfolio of providers, higher experiences, better loyalty advantages, and extra full options tailor-made to their wants. Prosus has a confirmed monitor 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 progress.”
Prosus: International shopper web group
Led by Fabricio Bloisi, Prosus is a worldwide web group and main expertise investor.
The corporate focuses on high-growth markets and creates shopper Web companies that profit individuals and communities.
The group is concentrated on constructing significant companies within the on-line classifieds, meals supply, funds and fintech, and schooling expertise sectors.
By way of the Prosus Ventures workforce, the group invests in new expertise progress 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 nicely, with actual GDP progress of 2-3% anticipated subsequent 12 months and promising medium to long-term prospects. Coupled with that, on-line journey is increasing considerably around the globe and the alternatives within the Latin America area give us confidence that we will work with Despegar to take the enterprise to the subsequent stage. This funding will function a robust instance of how we will construct worth by integrating companies into our ecosystem, driving progress, innovation, and lasting impression,” provides Bloisi
