|View printer-friendly version|
|MakeMyTrip Limited Acquires EasyToBook.com Group|
New Delhi and New York, February 6, 2014 MakeMyTrip Limited (Nasdaq:MMYT), India's leading online travel company, completed its acquisition of the entire equity interest in a group of companies comprising the EasyToBook.com Group ("ETB"). MakeMyTrip purchased shares from the existing shareholders of ETB and invested a further amount into ETB. The total purchase consideration and investment in ETB is approximately USD 5 million.
Established in 2004, ETB primarily operates through the website www.easytobook.com and offers its customers online hotel reservations in Europe, North America and other key global travel destinations. The company has unique front-end web design capabilities and has developed proprietary technologies for powering affiliate travel websites as well as dynamic shopping of various travel products. The company is headquartered in Amsterdam, Netherlands with a technology development team based in Herzliya, Israel.
The acquisition of ETB is expected to further strengthen the existing travel technology stack of MakeMyTrip.com and to enhance the international hotel room offerings for customers travelling overseas, particularly to Europe which is a key tourist destination for Indians, and vice versa.
About MakeMyTrip Limited and MakeMyTrip.com
MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private Limited, India's largest online travel company, MakeMyTrip Inc. (USA), MakeMyTrip FZ LLC (UAE), Luxury Tours & Travel Pte Ltd (Singapore), Luxury Tours (Malaysia) Sdn Bhd, the Hotel Travel Group (Thailand) and the ITC Group (Thailand). The Company's services and products include air tickets, customized holiday packages, hotel bookings, railway tickets, bus tickets, car hire and facilitating access to travel insurance. Through its primary websites, www.makemytrip.com and www.hoteltravel.com, and other technology-enhanced platforms, the Company provides access to all major domestic full-service and low-cost airlines operating to and from India, all major airlines operating to and from India, over 11,400 hotels and guesthouses in India, more than 144,000 hotels outside India, Indian Railways and several major Indian bus operators.