Amsterdam-based Prosus, a world shopper web group, on Monday, introduced that it’s set to amass 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 accepted 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 horny market place, and an skilled administration crew – making it a pure addition to our presence in Latin America. We’ll speed up Despegar’s development 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 broaden to serve over 100M prospects throughout native e-commerce, journey, and fintech sectors.
Despegar operates in over 19 Latin American markets with two principal 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 section 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 primarily based on its full-year 2023 outcomes.
By way of this acquisition, Prosus plans to create synergies between Despegar and its different regional companies, reminiscent of iFood, Latin America’s main meals supply platform with 60M prospects per yr, and Sympla, a outstanding occasions platform.
The transaction relies on normal phrases and circumstances. It wants approval from Despegar’s shareholders and regulatory businesses earlier than closing, which is anticipated to occur within the second quarter of 2025.
Damián Scokin, CEO of Despegar, says, “That is an thrilling improvement that delivers an excellent end result for Despegar stakeholders. The transaction represents vital worth for our stockholders, and I’m satisfied that Prosus is the perfect companion to drive our subsequent development part. For our prospects, this implies entry to an expanded portfolio of companies, higher experiences, better loyalty advantages, and extra full options tailor-made to their wants. Prosus has a confirmed monitor document of constructing main tech companies worldwide, and their deep understanding of the Latin American ecosystem uniquely positions them to drive our subsequent part of development.”
Prosus: International shopper web group
Led by Fabricio Bloisi, Prosus is a world web group and main know-how investor.
The corporate focuses on high-growth markets and creates shopper Web companies that profit folks and communities.
The group is concentrated on constructing significant companies within the on-line classifieds, meals supply, funds and fintech, and schooling know-how sectors.
By way of the Prosus Ventures crew, the group invests in new know-how development 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 properly, with actual GDP development of 2-3% anticipated subsequent yr and promising medium to long-term prospects. Coupled with that, on-line journey is increasing considerably world wide 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 development, innovation, and lasting influence,” provides Bloisi
