Benzinga
May. 6, 2022, 12:43 PM- Online travel company Despegar.com Corp (NYSE:DESP) has agreed to acquire TVLX Viagens e Turismo S.A (Viajanet), a Brazilian online travel agency, for about $15 million.
- Under the terms of the agreement, 60% of the purchase price will be payable at closing, 20% in twenty-four months, and the remaining 20% in thirty-six months.
- Viajanet recorded revenues of about $30 million in FY19.
- 98% of Viajanet’s gross bookings were within the Air segment of Brazil's travel market, giving Despegar scope to cross-sell its accommodation and other non-air product inventory to Viajanet's existing customers.
- DESP expects to close the transaction in the second quarter of 2022.
- Despegar held $279.2 million in cash and equivalents as of December 31, 2021.
- Price Action: DESP shares are trading higher by 0.20% at $9.97 on the last check Friday.
SHARE THIS POST
Despegar.com NewsMORE
";}}tableString += "";}tableString += "";}}tableString += "";$('#detail-news-table').html(tableString);try { trackPI(); } catch (e) { }};function insertNewsHelp() {var help = "To give you an overview of the large number of messages that appear every day for a company, we have broken the news feed in the following categories:\u003cbr/\u003eRelevant : News from selected sources that deal specifically with this company \u003cbr/\u003eAll: All news about this company. \u003cbr/\u003eCompany News: News issued by the company directly.";$('#detail-news-table').html(help);try { trackPI(); } catch (e) { }};ncG1vNJzZmilkae4psDSZ5muq5mjsrS%2FyKeqopyVp3uku8xopZ6vo2TAtbvCpKponJWovaazwKtkmp%2BimrK0edOoZJqboaq2s7GMm6maspmhtqK6jK2pmq6VoXqis8SnmrJlpp6uq63Nnqtmnp%2BnenKBzGZoaWthaYBygpJr